Free course · Lesson 20 · 4 min
Anatomy of a runner: locked supply meets demand
In 4 minutes: what a strong run is made of, what ends it, and the whole course in one picture.
Checking your access…
01Side one: little supply
When few shares are for sale, each extra buyer moves the price more. A small float and little room to issue keep it that way.
The baby shelf cap keeps PNDA’s ATM room at $2.2M (lesson 5).
02Side two: a wave of demand
Little supply alone moves nothing. Demand needs a reason that pulls many buyers in at once, most often news.
03The end: supply shows up
A run tends to fade when new shares reach the buyers. Three signs: an issuing filing, warrants in the money, resale shares unlocked.
04The whole course, in one picture
Most of this course was the supply side. A runner is that supply meeting demand, until new supply shows up.
053 questions for any runner
That is the whole course. Use “Back to all lessons” below to open any lesson again.
Sources
- Form S-3, General Instruction I.B.6: with a public float under $75M, at most one third of it can be sold in 12 months.
- 17 CFR 230.424(b): prospectus supplements, listed on EDGAR as 424B5 and similar.
Panda Desk shows these rows for any small cap, next to your montage. tspanda.com
Not financial advice. PNDA is fictional, and nothing here is a recommendation to buy or sell.