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You are correct. However that is the prelim list date. I think there is some jostling between the initial date and the final cutoff date.
No. You can get the info from Russell. Here's the link.
http://www.russell.com/ca/Indexes/US/membership/reconstitution.asp
Re Russell. The dates last year for rebalance were June 10, 17 and the final list June 24 and the inclusion date is June 30. I expect a similar timeline this year. The date where most of the trading takes place will be June 29 (a Friday). My guess is a market cap north of $275 mil or more will be needed to make the cut. PPHM will have to really put out some blockbuster news to stay. If they get booted, expect some strong downward pressure which will hammer the pps. There are many players that prey on the easy money of shorting the deletions.
Now is not a good time for mgmt to allow the to get stock slammed. The company is close to running on fumes with cash given all the trials that need to be funded. If for some reason funds were needed and another pipe required, look for some real downward pressure on price.
BP could be waiting in the wings for a cheap buyout.
My guess is there will be an aggressive play by the shorts prior to Russell rebalance. PPHM is way out of the money in terms of market cap needed. This situation will be easy money for hedge funds taking advantage of a Russell exit. Based on prelim research, stocks that get booted tend to lose about 10 to 14% of value. I was hoping to see an increase in instit ownership. Unfortunately, I think the institutions are throwing in the towel. Mgmt has failed to deliver to date and has really failed to communicate. I would not be surprised if mgmt is letting all this happen so they can let someone in on the cheap. This may help the longs eventually, but short term mgmt is not doing their fudiciary duty of protecting shareholder value. Another concern is mgmt sells out cheap and gets options from the acquirer. If mgmt doesn't turn the ship around soon, look for a delisting letter. Maybe mgmt wants this too? All imo.
Everybody is getting tired of the share price. Except the shorts. Russell rebalance coming up and at this juncture, PPHM will get tossed. Hopefully mgmt has some tricks up there sleeves to prevent this from happening. My guess is mgmt waits til the two minute warning to deliver. Otherwise the shorts drive it right back down.
ditto. some very good money mgrs and investors are calling for a major correction. the fundamentals of the economy looking forward don't justify the dow's all time high. when the big stocks get corrected, pphm will really get whacked(unless another event counteracts a correction). all imo
I have talked to mgmt on several occasions and the recurrent theme has been that the stock price does not reflect value. Mgmt has told me that. IMO mgmt has done nothing to correct the mismatch. I know there is a poison pill for a hostile takeover. I think it's time to put the company on the block and sell the various pieces. Mgmt has not done anything to protect shareholder value.
Any thoughts on Supreme Court patent ruling? Does it help or hurt PPHM? My guess is that it muddies the waters and potentially hurts value.
As I've stated before, mgmt is letting the friendly short accumulate. It could be BP with the help of a hedge fund. Hopefully there will be a happy ending to this story. The situation is similar to SNIC in that a heavy short position developed at the same time institutional interest increased. The exception was that SNIC mgmt was not part of the carnage. PPHM mgmt knows what's going on and they are not doing anything about it. All imo.
Mgmt has done little imo to beat the drums and garner support from institutional players. As a result, PPHM gets slapped around for a mere $500k per day. Small change relative to the value of the company. I spoke with mgmt and they acknowledge a short is keeping them down. Why don't they go to the SEC? Last year at this time the upcoming events was full. It's been blank for several months now.
As I said before, Mgmt is on stealth mode and is letting the shorter get the cheap shares. As Clayton Williams once said about rape, just lay back and enjoy it. Trying to enjoy it but it's getting old. All imo.
Which means mgmt has failed to do its job.
How would you grade mgmt in terms creating value? The pps gives mgmt a failing grade. Why should they stay on and continue to manage?
Frustration. IMO someone needs to light a fire under mgmt's butt to keep the ball moving forward vis a vis stock price. I think mgmt has been laying low while their big boys stock up while the price gets slammed. Enough is enough!
Same old same old. Mgmt can't get the car out of first gear. This is where guys like Carl Ichan can help. Hostile takeover and get new mgmt with experience. These guys are too weak to fight off the lions.
Talked to Schwab. No restrictions on buying or shorting. Restrictions apply to margin because it is non-marginable.
I talked with someone in the know this week. Can't say cause I'll lose access. I expressed my frustration with the lack of traction in stock price given the great pr's. Sit tight was the response. A partner deal with BP is on the way.
Last year all the meetings/presentations were posted on the website in the upcoming events section. This year mgmt has gone stealth. I believe for a reason. IMO the potential partner is getting as many shares on the cheap as possible and with the help of shorters and hedge funds. All this will benefit the patient longs.
Is this the rinse and repeat cycle again? When will start holding our ground? BOT, what's the latest?
Do you price the drug like an all you can eat buffet or you do charge for each item cured? Inquiring minds want to know.
I don't think volume is the indicator. If the accumulator(s) can pick up 200k shares a day or more over a number of days, it starts to add up. What I see is CINN comming in on both the bid and ask with a .001 spread and squelching any uprising.
News will start flowing after the big boys have acquired their shares, with the assistance of the shorters. IMO mgmt is aware of what's going on and knows it's to their benefit to have the institutions get in on the cheap.
Still no upcoming events posted on PPHM website. I still think mgmt is laying low and letting the shorters do their thing so the big boys accumulate. If I can recall, mgmt had a whole bunch of events on the website.
IMO mgmt wants to lay as low as possible until the big boys get all the shares they want at the discount price.
I don't think whoever is taking a position is hedged in the typical PIPE arrangement whereby the investor gets warrants so as to cover each side of the bet whether the stock price goes up or down (via short position). I think everyone knows the script here including management and that is to allow accumulation for the institutions thru agressive shorting. Mgmt wants more institutional ownership. IMO mgmt will let the players know when the next act of the play will start. Mgmt has been very quiet and has not updated the upcoming events on the website. The events have been trigger dates for news.
Is someone trying to paint the tape at close? Are they trying to discourage the longs into giving up their shares? Get ready to load up and let the games begin!
My guess on the value is that the company is worth quite a bit more than $1 per share right now. I used to get upset with the games. Now I try to take advantage of them. I tripled up on SNIC when the shorts pushed it below $4. I was able to talk to the CEO on several occasions. I made a killing but sold out too soon at $14 per share. I see the same thing here. If the games continue and PPHM gets booted from the Russell, I will be buying quite a bit more. We're three to six month away from takeoff.
Also add to it hedge funds that can slap a small cap down and make a quick return. You do it enough times and you make a decent annual return. Rinse and repeat. As to shorts getting caught in a squeeze, it all depends on why they are shorting and who they are helping. If the intrinsic value of the company is $4.00 per share and the shorts keep the price down at $1.00 and the big boys can accumulate at a 75% discount, even if the shorts get "burned" at $2 per share, they still could be helping someone get a company for half of what it's worth. Unfortunately, with naked shorting and the SEC's deliberate lack of enforcement, it's the wild west with no sheriff. The culprits know there is no sheriff in town. The hedgies give too much money to the people that are supposed to be looking out for the investor.
Just like the SNIC story. Glad I added a bunch at $.93. Looking forward to seeing the institutional numbers. Accumulation in progress. Do you think smart money shorts a potential blockbuster? No, the shorts are helping someone buy the shares. Given Goldman Sachs was just busted for helping some hedge funds naked short some companies, I would not be surprised if that's the case here. Too bad our SEC is like the rest of the Bush admin, worthless.
Anyone notice how quickly CINN slams it down? Good sign to buy more cause someone wants your shares.
If the gov or SEC could do anything about shorting or naked shorting, my guess is most of the problems would go away. Unfortunately congress has been compromised by hedge funds and the result is the SEC is less than worthless. This lack of enforcement has hurt small business growth and the economy.
My guess is $3 to $4 bill, depending on how much further they push it along. My example was for illustration purposes. I think they are getting all the ducks lined up with cleaning up litigation, jump starting Cotara, etc.
KT thanks for the insight. PPHM mgmt could move the pps now if they so desired. My guess is they know what's going on and it benefits them that the acquirer gets cheap shares. I'm also sure that buyout scenarios have floated across the conference table at their mtgs w/ BP. For example, if a $1.5 bil market cap was in the works which would equate to a $6.50 share price (ballpark assuming 230 mil shares fully diluted), the more shares an acquirer gets for $1, the higher price they can pay at the end of the day for the $1.5 bil mkt cap. IMO mgmt has been lying low and letting someone get cheap shares. Note the website has no upcoming events. Mgmt has been very quiet. They could bust the shorts if they wanted to.
IMO someone is shorting for the sale so their buyer can get the shares. In other words, there is no seller for the shares, just someone selling shares they don't own. I talked to an investment banking friend. His comment was that CINN is used by the discount brokers and hedge funds.
Me thinks something is going on here as in accumulation by somebody with the help of some heavy shorting. And I think mgmt is ok for the time being cause in the long run they benefit. Just a hunch. The more shares someone buys on the cheap, the higher the price for the end price, at a given market cap. I could be wrong, but somethings are not adding up.
I believe in the tech. I still believe mgmt is not strong enough to maintain their ground vis a vis stock price. That requires telling a great story to enough players so it makes a difference.
Questions to ponder. Why would mgmt wait so long for a cash infusion via PIPE unless they had something better up their sleeve? To me it would be reckless to have cash reserves go to where they are now when a small PIPE, say $8 mill, could have been secured after lastest news. Me thinks they have something better than the PIPE alternative.
No change in mind. Just don't think mgmt is capable from the financial end. My concern is they benefit from a lower stock price at a given time, ie milestone awards. Either they are not capable of getting the story out or they're just not doing it. Either way the result is the same. How long will Thorpe be patient when he could go anywhere? The breakup value of the company with bavi, cotara and avid is much greater than $.95 a share IMO. We need an Icahn type to rattle mgmt's cage. My investment banker friend shares the same concerns.
Market makers. The same reason the bid is $.951 the ask is $.961 and it trades at $.941.
Not pleased with stock price. If it's such a great story, management is pretty lame in telling it. Granted it's a small cap and can get beat down pretty easily. At the same time it would not take that many players to keep it stable. There needs to be a management shakeup IMO. These guys are not getting the job done.