My take

It feels like SCLX is cashing out to stay afloat or pivot to other ventures, given that their current efforts seem to have stalled—compounded by broader crypto market fears and profit-taking after Friday’s capital raise. Shorts know exactly how this plays out: With every bit of good news triggering a pump, SCLX cashes out, widening the free float and making days-to-cover a breeze. Now it’ll dip low, shorts will cover—clean, wash, repeat. This cycle ends only when actual, factual numbers hit the market, Scilex is out of the picture, and steadier hands take over. In the meantime (not financial advice), hold your long shares and play along: buy the dips, sell the pops.

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