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Robust options
Cowen bullish on Amarin, sees potential $20/share
Apr. 2, 2020 9:22 AM ET
About: Amarin Corporation plc (AMRN)
By: Douglas W. House
https://seekingalpha.com/news/3557790?source=ansh
But it's complicated, some nuance.
JDR
will do thanks...
My daughter completed a five year Ortho residency at Montefiore/Einstein and would see him around the ORs. One of her close friends a Neurosurgery Fellow trained with him and did some of the surgery on the twins. Apparently a rare humble down to earth star surgeon.
JDR
Coronavirus takes the life of a very famous NYC pediatric neurosurgeon, you might recall the case:
https://patch.com/new-york/new-york-city/nyc-doctor-who-separated-conjoined-twins-dies-coronavirus
NYC Doctor Who Separated Conjoined Twins Dies Of Coronavirus
Dr. James T. Goodrich, who captivated the world when he separated two infant twins with intertwined brains, died from COVID-19 Monday.
By Kathleen Culliton, Patch Staff
Mar 30, 2020 1:47 pm ET | Updated Mar 30, 2020 4:13 pm ET
NEW YORK CITY — A New York City neurosurgeon who made medical history when he separated two infant twins with intertwined brains died from novel coronavirus, Montefiore Hospital announced.
Dr. James T. Goodrich, pediatric neurosurgery chief at Albert Einstein College of Medicine, died from COVID-19 complications Monday morning, hospital officials confirmed.
"Our beloved colleague, mentor, teacher, brother-in-arms passed away early this morning," the hospital wrote in a tweet.
"As a last act of service to others, he will forever remind us that Covid-19 is not a faceless disease. He will always be in our hearts."
The hospital did not immediately respond to Patch's request for more information.
Goodrich earned worldwide acclaim in 2017 when he famously separated Anias and Jadon McDonald, cranially conjoined 13-month-old boys, during a 27-hour long surgery.
Years later, their mom Nicole McDonald cried in a video interview as she described Goodrich and what his expertise and dedication meant for her family.
"I was told their was no chance that I would have a child," McDonald said, noting both the boys were attending school. "It's what you dream of, I guess."
Goodrich used his skill at separating cranially conjoined twins — which relied on virtual planning and 3D printing technologies — to help families from across the globe.
Goodrich separated Filipino twins Clarence and Carl Aguirre in 2004 and, as CBS News reported, the boys celebrated their 10th birthdays in Scarsdale in 2014.
"When they were born, the doctors at home told me, 'You have to choose which one is to live,'" their mother, Arlene Aguirre, said. "The doctors here did not ask me to choose."
More recently, Goodrich helped separate twin girls Ysabelle and Ysadora Freitas, from Ceará, Brazil in 2019.
"They were born again," their mother Débora Freitas said at the time. "First by me, second by the doctors. I am so happy, I'm going to jump and my heart is going to explode."
Goodrich is a graduate of the University of California, Irvine, Columbia University and completed his residency at Presbyterian Hospital in New York City and the New York Neurological Institute.
Many us have made a similar request, advised there is no Amarin news or content to be found for posting, and we are then challenged to come up with something on topic if we can.
Another theory hypothesized in a private message is that no one really cares anymore- everyone of long standing membership here with any ten or more year interest in the stock, whether bought at 20 bucks then or .78 thereafter sold already in December at 26!
JDR
My post agreeing with you was just deleted.
Right on Mr1979!
I have had a handful of posts which were simply requests to return to the "business" of AMRN, the mission of the board, which were rather benign call outs, deleted as off topic by the very same moderators posting the nonsense to which you refer- often combative and vial, bickering like middle school mean girls- the most guilt are some of the moderators and the long standing members.
It's as if a newcomer (joined within last few years), one hasn't earned the right to even post to call out the a holes or refute their posted political or science opinion nonsense, bs content and battles amongst themselves.
When the share price times are good the oldies function as a stock pumping circle jerk versus the depressed share price bad times when it's more like a circular firing squad.
Two sets of rules apparently. A club of folks with nothing better to do, since they've watched the stock drop as much as 68% from December highs,to recent low of 8.58.
Let's see if this is also taken down.
JDR
You're also quite welcome to take a break.
Why would you ever think or assume that I and most folks are actually reading the ramblings of all you attention seeking, attention starved grandiose fools, rather most are clicking right through the majority of the off topic posts which are written by just a handful.
Back to Amarin please.
Please get a grip already, it's intolerable and somewhat sad, the posting of hundreds of off topic non Amarin related self pontificating nonsense by so many that have nothing better to do with the available time on hand and no one present with them who cares to listen to the bs.
Coming over from the crazies on the YMB and StockIdiots I never imagined the deterioration of the Amarin iHub section to this level.
If those guilty of such idiocy can only step outside of themselves to see how ridiculous and foolish they appear it would cease immediately.
Anyone else fed up?
JDR
What’s your point? Didn’t you short the futures Friday afternoon?
As I suspected, many of us have spouses or children in clinical professions on the front lines taking risks.
My oldest daughter is a Fellow spending the year at CHOP in Philly, the 590 bed children’s hospital of UPENN system.
Prayers for all for their health and safety.
JDR
PS managing to resist the temptation presented by the Board to jump in and be an a hole like so many here bickering and back biting 24/7, posting about politics, Trump, virus, hoaxes, etc. non stop.
You mean glass half percent full haha!
And perhaps for a longer period beyond tomorrow. We may yet witness another draw down analogous to the 2008/2009 financial crisis 50% drop in the major indices.
In fact, based on retracement theories, a 50% retracement from the run from 666 low to 3400 high is S&P at about 2000 which Goldman has stated is now likely.
A 61.2% retracement takes us down to S&P 1400. Look out below.
At those levels, one heck of a buying opportunity for stocks of companies with great balance sheets.
JDR
I know that, that’s the whole point of a “limit down”. Couldn’t go down any further, can’t pre suppose more than limit, so what’s the point in stating it’s rallied? Never went lower, so only bounced one half percent.
Tomorrow morning you can determine actual potential down percentages for the indexes at market open by viewing the three index ETFs which will trade pre market- SPY, DIA and QQQ for S&P, Dow and NASDAQ respectively.
JDR
Yep, down 4.5 % instead of 5% lol!
New Seeking Alpha piece:
Amarin: Debating The Risk/Reward At These Prices
Mar. 20, 2020 9:21 AM ET
7 comments
About: Amarin Corporation plc (AMRN)
seekingalpha.com/article/43...
Summary
Amarin recently reported impressive Q4 2019 earnings in the middle of the "coronavirus crash."
I believe the upside outweighs the downside risk, and I am looking to add at these prices.
Amarin reported record commercial numbers and progress with payers, but they weren't enough to thwart the mass selling in the overall market.
I discuss some of the leading downside risks and how I intend to manage my position during this unprecedented volatility.
Amarin Corp. (AMRN) recently reported their Q4 2019 earnings with a strong beat on EPS and revenue. The company's flagship product, Vascepa, continues to establish a market by becoming an important tool in the battle against cardiovascular disease. Unfortunately, Amarin released its earnings in the middle of the Coronavirus Crash and the stock has nosedived to 52-week lows.
In my previous article, I discussed how I "sold a large portion of my position upon approval and quickly employed some put options for insurance just in case the sellers really want to chop it down." Still, I was looking to add to my position once the share price was able to break its downtrend. I was expecting the positive earnings to be the potent catalyst that would help the stock breakout and trigger a reversal into the second half of 2020. Sadly, the positive earnings were not enough to overcome the mass-selling and the share price continued its downward trajectory (Figure 1).
Figure 1: AMRN Daily (Source: Trendspider)
Typically, I manage my investments using technical analysis but I am starting to consider adding to my AMRN at these prices despite the abysmal technical set-up. I believe AMRN might be worthy of "catching the falling knife" due to an amazing risk/reward profile and long-term prospects.
I intend to discuss my reasons for attempting to catch the knife and why I think the upside potential outweighs the downside. In addition, I reveal my post-Coronavirus strategy for developing a larger position in AMRN.
Upside: Premium Product
My primary reason for starting an investment in AMRN was due to its flagship product, Vascepa; which is a highly filtered compound created from the Omega-3 fatty - eicosapentaenoic acid "EPA." The fact that Vascepa's EPA has an ethyl group attached it which makes it a New Chemical Entity, which helps support a strong IP portfolio with more than 50 patents.
Vascepa's REDUCE-IT Phase III trial produced amazing data from its which supported a strong sNDA and FDA approval for a label expansion. Vascepa's new label includes both patients who are statin-treated and have a suggestion of cardiovascular risk, which is around 12M patients in the United States. Vascepa intends to reduce the risk of myocardial infarction, stroke, cardiovascular revascularization, elevated triglycerides and established cardiovascular disease or diabetes mellitus with two more supplementary risk factors for cardiovascular disease. This is indication is on top of Vascepa's original indication of triglycerides of 500 and higher.
In terms of competition, Acasti Pharma (ACST) bombed its Phase III trial for their omega-3 candidate and AstraZeneca (AZN) STRENGTH trial came up short. So, I don't see any other novel omega-3 product rushing in to take Vascepa's market in the near future.
Upside: Welcoming Market
Vascepa's expanded commercial launch has been focused on the education of healthcare professionals and securing affordable access for all patients who can benefit from VASCEPA. The company claims that they are hearing positive feedback from healthcare professionals while seeing further improvements to managed care coverage.
Prior to Vascepa, statins were essentially the only show in town, and they were only able to lower cardiovascular risk by approximately 25%-35%. Meanwhile, Vascepa can lower cardiovascular risk by an additional 25% on top of statins. Vascepa is attempting to address the unmet medical need and is being welcomed into the treatment paradigm.
According to the company, managed care coverage for VASCEPA is good and their managed care team continues to network with payers to make sure that they understand how Vascepa's clinical benefits will improve their customers' lives and that pharmacoeconomic analysis reveals there is no substitute for Vascepa. Thankfully, the company reported that they are seeing payers removing prior restrictions, including some Blue Cross Blue Shield plans.
Upside: Growth
When looking at 2019's numbers, we can see the company reported $400M in revenue, which would be 87% growth from 2018 (Figure 2).
Figure 2: Amarin Quarterly Revenue (Source: AMRN)
The company also reported their 2019 full year normalized scripts increased by 78% (Figure 3).
Figure 3: Vascepa Script Growth (Source: AMRN)
Considering the figures above, one must concede the company has experienced significant growth over the past couple of years and we should only expect those numbers to improve in the coming quarters and years as the company starts to promote their expanded label.
Figure 4: Amarin Capitalization (Source: AMRN)
Can They Do It? Amarin not only has a superior product, but they have a strong cash position of ~$646M and is in the process of doubling their sales force to 800 reps to cover 75k providers. Furthermore, the company is going to employ their cash in direct-to-consumer promotions and expects to increase their inventory purchases to ~$250M. As a result, Amarin believes these efforts will lead to $650M-$700M in total net revenue for 2020.
Figure 5: AMRN Annual Revenue Estimate (Source: Seeking Alpha)
So, it looks as if Amarin has all the ingredients needed to record year-over-year growth. How much? The Street expects Amarin to report steady growth in the coming years and will cross the $1B mark in the next year.
It is hard to see it in this current market, but this expected earnings growth should demand an increase in the share price. Using the industry's average price-to-sales of 5x, we could say AMRN should be at least priced $14 per share.
Upside: Going Positive
Another notable upside for AMRN is the potential for the company to report a positive EPS at some point in 2020 or 2021. Amarin is attempting to limit their expenses to ~$200M-$250M over 2019, so the company should move a bit closer to breakeven line this year. Looking at figure 6, we can see the Street is predicting Amarin to report a positive EPS in 2021 and will continue to show year-over-year growth into 2029.
Figure 6: Amarin EPS Estimates (Source: Seeking Alpha)
Thankfully, the company believes it has enough cash to make it to cash-flow positive, so it is possible the company won't need to perform a large offering in the near future.
Downside: Pending Legal Decision
In terms of downside, the biggest cloud remaining overhead is the threat of generics. Amarin has been fighting off the generic drug makers and has an ongoing battle with Dr. Reddy's Laboratories (RDY). Avisol Capital Partners did a great job covering this topic in their recent article, which put most of my fears to rest. However, if the court finds Amarin's patents to be invalid, we should expect the share price to be decimated.
Downside: Coronavirus and Market Volatility
Amarin was not immune to the Coronavirus Crash and it is possible that this market really starts to roll-over with AMRN tumbling down into the single digits for an extended period of time. The Coronavirus pandemic is disrupting supply chains and has changed the world's behaviors, so, it is possible that Amarin reports some impact in the coming quarters.
Upside Wins
I believe AMRN's upside far outweighs its downside at these prices. The company has a premium product being launched into a market that is hungry for another option. In addition, the company has all the ingredients to take advantage of that market and could report a positive EPS in the coming years. Indeed, the downside risks should make investors a bit cautious at the moment, but these issues should be resolved in the near future.
My Plan
As I mentioned in my introduction, I typically stick to technical analysis when determining how I will manage my position, however, I am deciding to go with an "its too good of a deal" approach for AMRN. I haven't touched my position since approval and still have my put options for insurance. Now, I am looking to add to AMRN around $10 a share. I am not going to look at the RSI, VWAP, trendlines, or any other technical indicator this time.
I believe these current prices are a steal and I am willing to take the risk during this period of elevated volatility. I intend to add to my position in the second half of 2020 following the company's second-quarter earnings to see if the Coronavirus pandemic has impacted the company's operations. If all goes well, I still plan to add and hold AMRN for at least five years in anticipation of a potential acquisition or a large return on my investment. If the company loses their court battle with Dr. Reddy, I will hold off on adding shares and will use my put options to scale out of my position.
Disclosure: I am/we are long AMRN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Amarin Stock Gets Cheaper, but Serious Questions Linger
Investors are getting fed up with Amarin stock
By Ian Bezek, InvestorPlace Contributor
Mar 19, 2020, 6:22 am EDT
https://investorplace.com/2020/03/amarin-stock-cheaper-serious-questions/
Late last year, it looked like Amarin (NASDAQ:AMRN) was starting to turn the corner. The company received the all-important go-ahead from the Food and Drug Administration to sell its Vascepa fish oil drug to a wide patient population. Previously, Vascepa was only approved for a narrow group of patients with extremely high triglycerides. But even before the recent craziness, Amarin stock was troubled.
Even Though It's Risky, Amarin Stock Is a Worthwhile Buy
Source: Pavel Kapysh / Shutterstock.com
Last year, when Amarin got the go-ahead to use Vascepa for many classes of cardiovascular disease, the company built up its sales force and appeared set for a huge 2020.But it hasn’t come to be. In fact, Amarin stock has tanked to start 2020.
In a frantic trading session last Thursday, it fell to as low as $8 per share, down 60% from recent highs. Shares are back up slightly now, as they closed at $10 on Monday.
Regardless, they are still way in the red for the year. What’s gone wrong for Amarin? And are the problems temporary, or is this a permanent setback? Here’s what you need to know about Amarin and Vascepa going forward.
The Case for Vascepa
Amarin shared a new investor presentation with its followers earlier this month. In their presentation, they made a compelling pitch for Vascepa. Cardiovascular disease is a huge, and worsening, problem. With that in mind, it’s clear that something is needed besides statin drugs for treating high cholesterol. As of December 2019, Vascepa is now the only non-statin approved for this use case.
With this landmark FDA approval, the game has changed for Amarin. They can now try to make Vascepa a blockbuster mass-market drug. They’re doubling their U.S. sales force to 800, and are seeking a host of international approvals for the drug.
Even before getting the mass market clearance, Vascepa had reached an impressive tally of 8 million prescriptions. Now, with the FDA’s broad label appeal, management sees Vascepa being a leader in a multi-billion dollar market.
To that end, we already see a great revenue growth trajectory. The company pulled in $430 million in revenues in 2019; that was an 87% surge from 2018. For 2020, it sees revenues spiking to at least $650 million.
While the company is still loss-making at this time, it believes it has enough cash to make it to profitability without needing to raise more funds. So if all the indications are positive, why did Amarin stock just make new 52-week lows on Thursday?
Frustrations Mount for Amarin Owners
Amarin stock owners have faced a most difficult ride over the past few years. That’s because Amarin has seemingly achieved a number of strongly positive developments. Yet, each time they get something done, the stock price pops for a few days and then goes back down. You have positive drug trial data readouts, the advisory committee approval of Vascepa, the subsequent FDA approval of Vascepa, the product getting approved in Canada, and so on.
Most recently, the FDA gave Amarin broad label approval to sell Vascepa for a wide range of cardiovascular conditions, rather than simply niche uses; that approval was supposed to be a game-changer that would open a huge market for Vascepa. This was supposed to be the turning point that would make Amarin hugely profitable; investors had been waiting for this for many years. But the surge to profitability didn’t play out as expected.
Instead, Amarin stock is now down roughly 40% since that FDA decision. Now bulls are pointing to an upcoming patent ruling later this month.
Amarin is claiming that generic drug-makers, including Dr. Reddy (NYSE:RDY) are trying to infringe on Amarin’s intellectual property by making a generic version of Vascepa. Should Amarin win its lawsuit, perhaps it would cause Amarin’s stock to rebound. At this point, though, bulls should be nervous, as Amarin has had numerous “catalysts” come and go without making an appreciable difference in the share price.
Amarin Stock Verdict
If you are on the fence about Amarin stock, here’s another data point to consider. Amarin’s President and CEO, John Thero, sold 200,000 shares of Amarin stock earlier this month at $16 each, bringing in a cool $3.2 million. Given that Amarin stock was trading above $20 for much of the past few months, it’s not particularly encouraging to see the CEO dump a big block of stock down at $16. As the stock is subsequently down to $10 now, it was admittedly a timely sale, however.
Still, after all the trials and tribulations Amarin has faced, you’d much rather see insiders buying, rather than dumping the stock. Particularly with several catalysts supposedly on the horizon, and a major ramp-up of the sales effort for Vascepa, this could be a positive inflection point for the company.
Despite that, however, insiders are not rushing to snap up Amarin stock. You may want to keep that in mind before doubling down on your positions in it, either.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. At the time of this writing, he held no positions in any of the aforementioned securities.
Never thought we'd see the day, welcome aboard JL, GL!
JDR
Agree on the possibility of Dow 15,000, only two big drop days to achieve that level.
More like a crash over four weeks versus the often uses terms of "dip, draw down, pull back, correction, etc."
Holding for today, ironically perhaps temporarily saved by Goldman from another "dip" below 10 this morning!
JDR
Goldman Sachs on board extracting Amarin from its "basket list" of high growth potential stocks:
Goldman Sachs: 3 Stocks to Snap up on the Dip https://www.smarteranalyst.com/analyst-insights/goldman-sachs-3-stocks-to-snap-up-on-the-dip/ $SPR $AMRN $VVV
Goldman Sachs: 3 Stocks to Snap up on the Dip
TipRanks•March 17, 2020
Stock markets saw another spectacular drop yesterday, which come on the heels of the Federal Reserve interest rate cut, among other governmental actions to combat the COVID-19 panic – and it’s a clear sign that traders are not going to be easily reassured in the current crisis. With so many businesses shuttered or on part time as communities struggle with large-scale and indeterminate lockdowns and quarantines, the only certainty is that economic effects will be widespread – and the impact cannot yet be seen. In a hopeful development, President Trump, in yesterday's statement from the White House, announced that the Federal government is green-lighting clinical trials on vaccine development.
We can't predict the future, but one thing is clear: the market volatility has not ended, nor is it likely to soon. Traders will have to put up with steep gains and losses – although hopefully not as severe as yesterday's 3,000-point drop in the Dow Jones average. But with these losses comes an opportunity: plenty of otherwise sound stocks will be pushed to discount prices by the general bear market, and for savvy investors, this may be the right time to buy in.
So with this in mind, we extracted three intriguing stock ideas from Goldman Sachs’ basket list. As you will see, Goldman estimates big upside potential of over 60% for each of the stocks covered below. And to get an even better idea of each stock’s outlook, we use TipRanks data to understand the overall Street consensus. This makes it easy to decide whether these stocks make compelling investing propositions right now. Overall, these stocks offer investors a rare opportunity to find high growth potential alongside a discount entry price.
Amarin Corporation (AMRN)
Amarin is a cutting-edge biotech with an ace up its sleeve: an approved product on the market. The company produces Vascepa, which was approved in 2012. Vascepa is based on fish oils, specifically Omega-3 fatty acids, and is marketed as a preventative treatment for hypertriglyceridemia, a cause of heart disease in adults.
Amarin has reported strong sales of Vascepa, on the order of $425 million for full-year 2019 numbers. The company’s guidance for 2020 puts sales in the range $650 million to $700 million, a strong gain that will help offset predicted increases in operating expenses. AMRN’s earnings and revenues are on a positive trend, having beaten the estimates in Q4; meeting the Vascepa sales figures this year will help continue that move.
Writing on the stock for Goldman, 4-star analyst Paul Choi sees Amarin achieving just that. The analyst says of the company’s prospects going forward, “Last December, Vascepa was approved for an expanded label that is larger than we had previously initially expected and now includes patients with both established cardiovascular risk and diabetes… We estimate that this is a population of nearly nine million eligible patients in the US, which compares to the three million patients previously eligible based on the initial Vascepa label… We now expect AMRN to beat consensus revenue estimates and AMRN’s guidance in 2020.”
"With the recent pullback in AMRN, which has been driven by both idiosyncratic and macro factors, we now see its valuation as compelling in the midst of its ongoing launch of Vascepa in the REDUCE-IT population," the analyst concluded.
As a result, Choi bumped his stance on AMRN from Neutral to Buy, and sets a $28 price target. His target indicates confidence in a powerful 173% upside potential, underscoring the great profit potential inherent it the stock. (To watch Choi’s track record, click here)
All in all, Amarin has 8 Buy-side ratings given in recent weeks. These are partially balanced by 2 Holds and 1 Sell, making the analyst consensus view a Moderate Buy. AMRN shares closed yesterday at $10.26, and have a 173% upside potential based on the average price target of $28.10. (See Amarin stock analysis on TipRanks)
Smart political move trotting out so may healthcare, insurance, retail and lab executives to the podium.
Politics aside, we should all be so fortunate to have such a smooth speaking and loyal number two like Pence, whether an executive in a publicly traded company, private business, politics or any other industry or sector.
JDR
Mario M. Cuomo, the former Governor, is Andrew and Chris' father. Andrew renamed the NY Tappan Zee Bridge after him.
Did the Governor share this view with his kid brother. Chris Cuomo is one leading fear mongering CNN anchors. How ironic.
If Trump states anything similar he's blasted, but Andrew is a hero!
JDR
Upgrade by GS has already produced two day pre upgrade volume of almost 27 million shares...they are not buying in after the fact, nor will retail as yet having witnessed the 8.58 pps yesterday as well as potential continued market downdraft.
JDR
Non coronavirus or politics related conspiracy theory:
Anyone else think GS and/or MM's took it down yesterday morning and in after hours last night to accumulate pending upgrade issuance this morning, and sold in the 13's during in PM and at open this morning. Of course within minutes, another buy near 12.10.
Had inkling to buy more shares again last night and sell some trading shares this morning at open, but failed to pull trigger both times thinking more downside seeing 10.70 last night with futures down or more upside this morning.
Bastard crooks! Very difficult to keep up with the trading opportunities they create for themselves and their own.
JDR
Justin Trudeau's wife infected.
JDR
The Fed did a great job!
New York Gov. Cuomo bans gatherings of 500 or more amid coronavirus outbreak.
“Those new rules will go into effect 5 o’clock on Friday, except for the Broadway theaters in Manhattan, where it will go into effect 5 o’clock today,” Cuomo said during a press briefing on Thursday.
Right on Kiwi, great strategy, so do I and I have a long shopping list to pull the trigger on when the fear peaks with blood flooding the "street", no pun intended. Oil will fall further, Disney will close their theme parks, Marriott hotels will be 75% vacant, and so on and so forth in many sectors.
Also look for the President to invoke the Stafford act, acting on emergency powers available in declaring state of emergency.
JDR
Wall Street will use any excuse to maximize the drawn down from here on out. It could continue and end before any bill passes Congress on a bi-partisan basis. The children in Washington are still bickering as we speak.
What Wall Street wants, Wall Street gets. They found it too challenging and expensive to make money trading at the all time highs of an almost 30,000 Dow at the tail end of a twelve year bull market.
When the community spread reaches a peak at much higher levels of infection and the government has the guts to literally shut down the country and thereby force the economy to a grinding halt, to provide for a containment period, hit the buy, buy, buy button as hard and often as one can!
Whether virus or business cycle driven recession, it's still a duck. BTW, the average draw down in more typical recessionary conditions is 30 percent.
As I'm writing, Dow drops back again almost 1200 points.
JDR
You reference "support the market". However, it's about releasing liquidity into the US Treasury market...companies need the $$ infusion in the short run. Also using QE again.
Stocks still headed down until drawdown is at least 30-40%...a financial crisis like percentage of 50% not out of the realm of possibility. Think about it, 30 minutes ago, the indices were about half way there in just a week plus. We hit a trading low in the last hour. Just two more 3,000ish Dow down days will get us here.
The old saying is wait until the "generals" fall, many of which have held up on a relative basis.
Had to do with trading of Treasury securities...flooding the market. Nothing to do with equity markets, although a liquidity crisis if not stemmed by the Fed could spill over into the equity markets.
JDR
650 now
Can we start raising funds on this former Amarin iHub section by charging for the positive therapeutic effect many posters seem to achieve with the sharing of their off topic random fleeting thoughts?
We need to develop a sliding fee scale based on AMRN PPS.
I volunteer to collect and manage the contributions to the fund.
Just saying.
JDR
Context- concurrent to the AMRN plunge, the Biotech ETFs barely moved- IBB dropped by only about 20 cents and XBI even less.
JDR
Stops taken out, hedge fund margin call(s), other reasons for the 3:14 to 3:18 pm five minute "flash crash"?
About 1.5 million share volume in the five minute round trip- plunge from 12.80's to 11.59 back up to 12.50's.
Any thoughts?
JDR
It has been exposed to the coronavirus and is under order to self quarantine.
Has been temporarily replaced by the Mean Girls (symbol MG) board.
JDR
It just came to me, from reading all of the coronavirus posts... where's JT?
Other than very brief cameo appearances at two investor conferences, he's since been flying below radar. Perhaps he's under self quarantine, at the request of the Board and his staff.
Right, quite the arrogant surgeon...replaced Frank Burns.
Virus, smirus...enough already, all lay people with nothing better to do than weigh in on the coronavirus, its impact on human life, the economy, the politics around it... Let's hear from the real physicians out there...a few on the board I know.
Alternatively, I'd rather hear from the stars! Dr. Sanjay Gupta, Dr. Mehmet Oz, even Drs. Paul Nassif or Terry Dubrow from the Housewives lol. How about Dr. Phil, Dr. Hawkeye Pierce, Dr. Marcus Welby, Dr. Kildare or Ben Casey, even Dr. Cliff Huxtable...someone save us!
I happen to know Drs. Robert Hartley and Jerry Robinson if your mouth hurts from yapping.
JDR
Difficult to sit by and read the bs posted defending the stock price, just after defending the CEO...a paid pumper on IHub?
Number three reason in defending the 45% AMRN PPS fall from its December 13/16th high is not factual. The S&P climbed about an additional 10% after Amarin reached its December high, peaked on February 19th, on a day when AMRN closed at 18.10, with AMRN having already fallen about 30% from its 52 week high of 26.12. The NASDAQ move up from December to its February all time high was even more pronounced.
To date the indices are down about 18% from all time highs, AMRN down 47%.
Perhaps reasons for stock under performance include forward guidance, poor launch execution, litigation, continued "its only fish oil" perception, low institutional ownership,CEO that lacks any executive presence, etc.
JDR