FOLD

FOLD is currently tethered to a 'Merger Arbitrage' dynamic following BioMarin's (BMRN) agreed all-cash acquisition offer of $14.50/share (Dec 2025). The 3.0x volume spike and 'Perfect Stack' signals are not a traditional breakout, but rather 'Institutional Absorption' as arbitrageurs digest the float following favorable long-term data presented at the WORLDSymposium (Feb 3-6) and BioMarin's successful $850M bond offering to fund the deal. In this 'Risk-On' regime, the market is aggressively pricing in deal completion, compressing the spread.