Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
CNBC's Bob Pisani just reiterated how to interpret a current VXX (the volatility index) price of 50- this implies a 50% move in the S&P 500, up or down, in the next 12 months.
Wow, crazy...anyone else find it hard to wrap your head around that? Then again, it could quickly go down to 20 or 30.
JDR
Check this out...another favorable piece reaffirming the opinion of may here regarding a buy!
JDR
Why It’s the Perfect Time to Buy Amarin Stock Now
If you've been waiting for a chance to buy a dip in Amarin, the wait is over
By David Moadel
Mar 9, 2020, 10:02 am EDT
Much of the financial media has been focused on the coronavirus from China. This is perfectly understandable. However, there are also drug developers doing very important work not directly related to the coronavirus. For instance, investors should consider Amarin (NASDAQ:AMRN) stock. The company has a life-enhancing solution in the form of cardiovascular-treatment drug Vascepa.
Why It's the Perfect Time to Buy Amarin Stock Now
The share price fell in early March, so shareholders’ concerns are understandable. However, besides having a robust drug pipeline, Amarin has proven that it’s financially sound. The company’s revenue growth and other indicators suggest a sound fiscal basis. These all translate to a stock that demands your attention.
A Watershed Moment
December 13, 2019, was a momentous day for Amarin and potentially for the cardiovascular-patient population as well. That was the day when Vascepa, the company’s flagship drug, became “the first and only FDA-approved medication for reducing cardiovascular risk beyond cholesterol lowering therapy in high-risk patients approved for treatment.”
This is huge news for patients at risk of coronary events, myocardial infarction, strokes and angina. As explained by Amarin President and CEO John F. Thero, “For the first time, physicians, patients and payers have an FDA-approved treatment option beyond cholesterol lowering that has been demonstrated to significantly reduce major adverse cardiovascular events when used on top of a statin.”
You’d think that this game-changing Food and Drug Administration approval would be enough to bolster the Amarin stock price. Unfortunately, it didn’t pan out that way.
To quote InvestorPlace contributor Vince Martin, “After approval, Vascepa looked like a blockbuster … Vascepa thus seemed to have the market to itself … And yet, since Vascepa received FDA approval, Amarin stock has continued to fade.”
Martin conceded that the share-price drop has been befuddling. It’s hard to deny that there’s little rhyme or reason to the market’s reaction to the FDA approval. Besides, Amarin’s most recent earnings results should impress the investing community.
Blockbuster Earnings Not Fully Appreciated
Sometimes it just takes time for the market to understand and appreciate a company’s true value. That appears to be the case with Amarin stock. Judging by the stock’s price action, it looks like the Vascepa approval just hasn’t sunk in yet.
The company’s CEO observes, “In terms of being on formulary coverage, we’re on nearly 95% of Medicare Part D plans and on about 85% of commercial plans.” That alone should be enough to bolster the share price in short order.
Moreover, investors have evidently failed to factor Amarin’s spectacular fourth-quarter and yearly revenues into the stock price. During 2019’s fourth quarter, Amarin’s net total revenue totaled $143.3 million. This marked a quarterly record for the company as well as an improvement of 85% compared to the fourth quarter of the prior year.
Meanwhile, Amarin’s net total revenue for 2019 was equally noteworthy at $429.8 million. That figure represents an annual record for the company. It’s also an astounding 87% increase compared to its net total revenue in 2018.
Additionally, there was strong growth in Vascepa prescriptions. The data appears to indicate that normalized prescriptions of this drug increase by 84% to 85% during 2019’s fourth quarter compared to the same quarter of the previous year.
The Takeaway on Amarin Stock
If Vince Martin is confused by the drop in the price of Amarin shares, that’s perfectly understandable. When the market gets it wrong, that’s a chance to capitalize on the mispricing. Amarin shares are mispriced at the moment, and investors can now swoop in and take advantage of that.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. As of this writing, he did not hold a position in any of the aforementioned securities.
To the technicians/chart analysts- is this how AMRN fills the gap up from three?
Some insist all gaps need to be filled, but clearly that's not necessarily the case on huge upward moves based on fundamentals,news, takeovers, etc.
Hope not! On the other hand, what a potential one day buying opportunity, solong as one doesn't check account balance and freak out during that day!
JDR
BB makes reference to Dendreon (DNDN)...for those not as familiar with DNDN or do not recall the issues around that company and stock, please refer to the following 2013 article, provided for information only, not a direct comparison to, or interpretation of, present AMRN circumstances (so please restrain yourselves to those potentially attacking its posting here/please refrain from doing so).
JDR
Dendreon: A Cautionary Tale For Biotech Investors
Tom Meyer
December 30, 2013
Although investors have profited handsomely from biotechnology stocks over the past couple of years, Dendreon (NASDAQ:DNDN) shareholders have not been as fortunate. The iShares US Healthcare ETF (NYSEARCA:IYH), a common barometer for the overall health of the healthcare industry, has generated a 62 percent return over the past 2 years. During the same period, shares of Dendreon have dropped in value by more than 50 percent.
Dendreon is a biotechnology company focused on the discovery, development, commercialization, and manufacturing of novel cancer therapeutics. The company produces active cellular immunotherapy product candidates designed to stimulate an immune response in a variety of tumor types. Shares of the company began to rise in early 2009 after the company announced positive data from its Phase 3 trial for Provenge, the company’s treatment for prostate cancer. The share price continued to climb for much of 2009 and into 2010 when the company finally received an FDA approval.
The share price history represents a cautionary tale for all biotechnology investors. Prior to April 2009, Dendreon’s share price had been trading in the single digits for much of its history. In fact, prior to the Phase 3 trial update, shares were actually trading below $3. The shares then soared as high as $54.06 immediately following the FDA approval. After the approval, shares hovered between the mid 30s to low 40s before eventually beginning their massive descent.
So why am I bringing up ancient history? I’m bringing it up because it represents an important lesson for all biotechnology investors. The lesson is that investors need to know when to take their gains. In the case of Dendreon, the signs were on the wall that shares were topping out after FDA approval. At the time, Dendreon only had one approved drug without much of a pipeline to generate additional revenue. The company also made the decision to go it alone rather than to seek out an established partner that could have lightened the load as far as commercialization and marketing expenses. In fact, the company’s market cap soared to more than $5 billion following the FDA approval. That valuation was before the company was even selling its product.
We could actually compare that valuation to that of another company, Jazz Pharmaceuticals (NASDAQ:JAZZ), that has been vastly more successful. Jazz Pharmaceuticals is currently valued at $7 billion but has generated consistent growth in revenue and net income. In fact, in 2012, Jazz generated total revenue of $586 million and a net income of $288.6 million. Jazz Pharmaceuticals has also built an impressive pipeline and recently acquired another pharmaceutical company to help bolster its future growth prospects.
So, the point is that while Jazz Pharmaceuticals is deserving of its valuation, Dendreon was clearly not. Investors would have been well served to at least sell enough shares to get their original investment back. Unfortunately, many did not as they were convinced that the company was poised to become a major player and leader in the cancer space. It hasn’t worked out that way.
Dendreon is now value at just under $500 million, less than 90 percent of what it was valued at more than 3 years ago. That’s an eye opening valuation cut considering the market and biotechnology in general have gone straight up. Here is another frightening fact — in 2012, Dendreon generated total revenue of $325.5 million and ended up losing $393.6 million. How is that possible? It speaks of inexperienced company that should have partnered when it had the chance several years ago. Instead, the shareholders ended up suffering from a poor managerial decision.
So what does the future hold? Well, there appears to be no light at the end of this tunnel. The company ended the third-quarter 2013 with just under $170 million in available cash and cash equivalents. That likely means the company will need to raise funds during the first 6 months of 2014. That will result in another share price drop.
In light of all the negative developments, Brean Capital lowered its price target on Dendreon shares to $0.50. If the shares do end up trading at that level, that would be more than a 99 percent drop from the highs set in 2010. Needham also downgraded Dendreon shortly after Brean Capital did. In late October, in what appears to have been an attempt to stop the bleeding, several media outlets reported that Dendreon was seeking a buyer. Unfortunately, nothing has come of that and the rumors have appeared to sizzle out. Investors are now left with only a painful reminder of what the company use to be and what it could have been. Hopefully, in the future, the lesson learned here will help investors realize when it’s time to take profits.
[color=red][/color]
Meant “gaps up”.
Thank you for the analysis. In some respects isn’t the current price and basing range reflective of a 50% retracement off the high print of 26.12 versus the point of breakout at just below three?
All gaps down appear to have been closed? Support in and around current price?
JDR
My apologies if I offended anyone...was funny at the time y'all were posting about V's alleged odor.
JDR
Wow, used to be that only two things smelled like fish! Now there are three!
JDR
6 Quality Biotech Stocks on Sale Now
https://www.fool.com/investing/2020/03/06/6-quality-biotech-stocks-on-sale-now.aspx
Tumultuous market conditions discounted the stock prices of these leading biotech companies.
David Haen
Mar 6, 2020 at 8:30AM
Who doesn't love a good sale? With the markets in turmoil and little idea when it will end, healthcare investors can seize the opportunity to snap up discounted shares of quality companies.
Here, I explore six attractive small and mid-cap biotechs with valuations greater than $5.5 billion. These established companies expect to generate revenue between $450 million and $2.4 billion in 2020. Yet due to market conditions, their stock prices have dropped between 10% and 35% this year.
2. Amarin
After posting record revenue of $429.8 million in 2019, Amarin (NASDAQ:AMRN) expects the growth to continue in 2020. Revenue guidance for the year ranges from $650 million to $700 million. Amarin has nearly completed doubling its sales force to about 800 people to help achieve this.
Vascepa, Amarin's marketed product, gained a second, extremely important FDA approval in December. Vascepa demonstrated that it can help reduce cardiovascular events in patients with high risk for cardiovascular issues. Millions of patients stand to benefit from this drug being approved by the FDA to mitigate this risk. Despite consistently growing sales, the stock dropped 35% from the start of the year, making it a top biotech stock to buy right now.
New Investorplace piece:
https://investorplace.com/2020/03/amarin-stock-looks-like-a-heart-healthy-buy-on-the-dip/
Amarin Stock Looks Like a Heart-Healthy Buy on the Dip
Amarin's Vascepa is on track to be a multibillion-dollar franchise
By Tom Taulli, InvestorPlace Writer & IPO Playbook Editor Mar 6, 2020, 6:50 am EST
The weak performance of Amarin (NASDAQ:AMRN) has been a head scratcher. Back in December, the company announced a major approval from the U.S. Food and Drug Administration. There was also a strong fourth-quarter report.
Even Though It's Risky, Amarin Stock Is a Worthwhile Buy
Source: Pavel Kapysh / Shutterstock.com
But Wall Street didn’t really care. Since early December, Amarin stock has gone from $24 to $16.
Now the recent volatility in the markets has taken a toll, no doubt. And there are some other worries about the company’s aggressive spending to build out its infrastructure.
Yet despite all this, I think the selloff in Amarin stock has been an overreaction. Why? Well, let’s take a deeper look at some of recent developments.
First of all, the FDA approval was definitely a game changer. The agency agreed to a new indication and label expansion for the flagship drug, Vascepa. Note that the drug was shown to reduce cardiovascular disease for those with elevated triglyceride levels. This was the conclusion after an extensive clinical trial that lasted seven years. The FDA approval was also unanimous, which is not too common.
To put things into perspective, other pharma companies — like AstraZeneca (NYSE:AZN) and Acasti Pharma (NASDAQ:ACST) — have been developing their own treatments. But they have proven to be ineffective. As a result, Amarin will be the first to market in this category.
In the meantime, the company is aggressively expanding Vascepa in foreign markets. Consider that Amarin received regulatory approval in Canada. There has also been a marketing application in Europe. And then there is China. Amarin’s partner in the country should complete the clinical trial by the end of this year.
Next, Amarin’s growth has been ramping nicely. In the latest quarter, revenues jumped by 85% to $143.3 million, hitting a record for the company. Net income came to $7.1 million, or 2 cents a share, up from a loss of $33.7 million, or 11 cents a share in the same period a year ago.
Amarin also reaffirmed its outlook for 2020. The revenues are expected to range from $650 million to $700 million, driven primarily by Vascepa.
The Risks
Amarin definitely faces some real challenges. Let’s face it, building the needed infrastructure will not be cheap — or easy.
The company plans to expand the sales force in the U.S. to about 800 reps, representing a doubling on a year-over-year basis. It can be tough to educate and onboard such employees. So, it seems reasonable that there will be some growing pains.
Another issue for Amarin stock is that the company must deal with a patent lawsuit from generic drug companies, Dr. Reddy’s Laboratories (NYSE:RDY) and Hikma Pharmaceuticals (OTCMKTS:HKMPF). True, it does appear that Amarin has a good case. But then again, litigation can be dicey.
Bottom Line on Amarin Stock
The market for Amarin is certainly massive. Keep in mind that heart disease is the leading cause of death in the U.S. and costs about $500 billion per year. Vascepa can also be used in conjunction with those taking statins. And note that more than 35 million people in the U.S. take these.
In light of all this, it should be no surprise that Vascepa has the potential to be a multibillion-dollar franchise. This should make Amarin very attractive as a buyout candidate for companies like Pfizer (NYSE:PFE) or Merck (NYSE:MRK).
Thus, Amarin stock really does look attractive, especially in light of the recent selloff.
Tom Taulli (@ttaulli) is the author of various books on investing and technology, including Artificial Intelligence Basics, High-Profit IPO Strategies and All About Short Selling. He is also the founder of WebIPO, which was one of the first platforms for public offerings during the 1990s. As of this writing, he did not hold a position in any of the aforementioned securities.
Yes BB, the operator came on as typical for most calls, requesting name and company/affiliation- provided name and "private investor" as affiliation- was put through joining the call.
Sometime later, as others reported, operator announced she was instructed to remove investors from the call.
JDR
same here just now
Slides also posted:
Antihydrogen 7m
For the general public to review from data side for today's call
twitter.com/everlastdd/stat...
You guys see this on posted ST regarding the Cantor Conference call on litigation?
JAKE_1972
9m
$AMRN To my prior post, outline for call is herein:
Discussion Topics for call:
• Review of the patent litigation case for AMRN’s Vascepa. What was found on Summary Judgement, what’s new that came out of the trial?
• Discussion of the arguments and evidence cited in the recently released post-trial briefs.
• Does the plaintiff or defendant have a more compelling case as it pertains to obviousness? Why?
• Does the plaintiff or defendant have a more compelling case as it pertains to non-infringement/inducement? Why?
• Is the REDUCE-IT study relevant to this case? Why or why not?
• Where will the controversy/debate be in the judge’s mind? Where are standards not explicit in this case?
• Who do you think will win this case, AMRN or the generics? Why?
• What are the odds of a win or loss by AMRN? Why?
5
Bullish
JAKE_1972
13m
$AMRN Dial in for Cantor Fitzgerald call at 1pm today to discuss post trial briefs for AMRN vs Generics
Thursday, March 5th, 2020
1:00pm ET
Toll Free Dial-in: 1 866 966 5335
Alternative Dial-In: 1 212 999 6659
Passcode: Amarin Briefs
Discussion on the post-trial briefs for AMRN’s Vascepa
Speaker:
Zachary Silbersher
Founding Partner of Kroub, Silbersher & Kolmykov (KSK) PLLC
Hosted By:
Louise Chen, Large Cap and Specialty Pharma Analyst
Brandon Folkes, Biopharma and Specialty Pharma Analyst
Jennifer Kim, Large Cap and Specialty Pharma Analyst
Anyone doing any buying in here?
JDR
ob, absolutely correct. Would be paying taxes on the gain on the sale and establishing a new position/new cost basis with the subsequent position.
Wash rule only applies to sales at a loss.
JDR
Chart not necessary TTE, she was advised by Goldman Sachs to short after the trading halt during after hours on December 13th.
The Charts of Amarin Tell Us That a Close Below $14 Is Key
Let's check the charts of this bio pharmaceutical company that develops drugs for cardiovascular disease.
https://realmoney.thestreet.com/investing/the-charts-of-amarin-tell-us-that-a-close-below-14-is-key-15257320?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
By BRUCE KAMICH Mar 04, 2020 | 10:49 AM EST
During the 'Lightning Round' of the Mad Money program, callers get a chance to ask Jim Cramer about stocks they are interested in. One caller Tuesday night asked about Amarin Corp. (AMRN) : "I liked the quarter and I like the stock here," replied Cramer.
In this daily bar chart of AMRN, below, we can see that prices have been holding the $14 area. The bigger picture is that prices have been in a wide sideways trading range the past 12 months. Prices are below the declining 50-day moving average line and the flat to declining 200-day moving average line.
The daily trading volume histogram below the price chart shows a number of surges or spikes in volume but the On-Balance-Volume (OBV) line shows a decline from August to October, and a decline from December to now. Both of these declines suggest that sellers of AMRN have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator moved below the zero line in January and it is still bearish.
In this weekly bar chart of AMRN, below, we can see that prices are in the lower part of a long sideways trading range pattern. Prices are below the declining 40-week moving average line.
The weekly OBV line has been weakening since November and tells us that sellers on this time frame have been more aggressive.
The MACD oscillator is crossing the zero line for an outright sell signal.
In this first Point and Figure chart of AMRN, below, we used daily price data. A long downtrend can be seen and the only positive on this chart is that a downside price target around $17 has been reached.
In this second Point and Figure chart of AMRN, below, we used weekly close only price data. Here a downside price target of $6 is indicated but a weekly trade at $14 is needed to weaken the chart.
Bottom line strategy: I am not sure that AMRN is a good purchase here but I can say that a weekly close below $14 would be a good place to stop out any long positions.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
Great, 10 year dipping below 1%...welcome to the Bank of Japan!
Negative rates next ala Europe...
JDR
I don't owe you any explanation, but since you are so far off base I will. I was commenting on the Feds move and related matters. If they make you nervous just don't read the posts.
Learn to read and/or interpret what you've read correctly, as I didn't intimate I was nervous one bit,about the markets or AMRN PPS or potential.
To the contrary, I am in 90% cash, and was quite fortunate to have unloaded AMRN at 25.90. I have successfully traded numerous times in the 13's through 15's since last week and am reaccumulating the core position going forward.
In fact, quite confident in these market conditions, as I have shorts on certain ETFs and specific equities and are reaccumulating AMRN at these levels as we speak.
Save the message for other posters when they are posting dozens of times about off topic- corona, falling PPS, JT's management, etc.
Do me a favor and put me on ignore, is that a threat to silence my observations or opinions?
JDR
Perhaps Jay Powell and Alex Azar can trade jobs during this period...Jay Powell using a financial playbook approach to fight a new virus strain.
JDR
Not only Robinhood issues, Merrill Edge wouldn't accept online market orders, only limit, for about an hour this morning with significant delays in preview order and refreshing function.
JDR
Powell is signaling the world economy will crater as well as significant disruption to global supply chain.
JDR
The market will finish negative, thanks Jay Powell for buckling under pressure from the White House!
Tank more when he speaks at 11:00 am to let us know things are worse than already anticipated.
JDR
Fed moving prematurely and needlessly, propping up market artificially post financial crisis, using bullets it might need for an actual future recession.
The market will ultimately turn down on this action. The Fed may be telegraphing things are worse than even feared relatively to impact on economy.
JDR
As you note, many here suspect mums the word on status of DTC submission/approval for reasons speculated.
JDR
NEW ARTICLE : Amarin Stock: When Good Results Aren’t Enough https://dashboard.stck.pro/news.php?ticker=AMRN&rowid=3777645
Amarin Stock: When Good Results Aren’t Enough
Amarin stock poses high risks, but it also offers high potential rewards
By Todd Shriber, InvestorPlace Contributor Mar 3, 2020, 8:50 am EST
On Feb. 25, Amarin (NASDAQ:AMRN) reported a fourth-quarter loss of 2 cents per share on sales of $143.3 million. The per share loss narrowed from 11 cents a year earlier, while the company’s sales surged 85% YOY, topping analysts’ average estimate of $136 million. As expected, sales of the company’s cardiovascular treatment, Vascepa, were the big driver of its revenue increase. But that wasn’t enough for investors, as Amarin stock sank 7% on the day after the earnings report.
Even Though It's Risky, Amarin Stock Is a Worthwhile Buy
Source: Pavel Kapysh / Shutterstock.com
On Feb. 27, the stock again plunged, losing nearly 10% on its way to a weekly loss of 18%. The shares have tumbled 25% since the start of the year.
The average analyst price target on Amarin is $28.80, or about 80% above yesterday’s closing price. While there are credible reasons to think AMRN can rebound, its recent price action and a lack of near-term catalysts for the company suggest analysts may be inclined to lower their price targets. That, in turn, could impede a recovery by the shares.
However, the company plans to continue its current approach to boosting sales of Vascepa.
Looking Ahead
Amarin is a one-trick pony, as Vascepa is its only drug on the market. Relying on one drug isn’t uncommon among mid- and small-cap biotechnology companies. But investors looking for biotech companies with many drugs would do well to stick with large-cap names.
As many as 15 million Americans need a drug like Vascepa, and Amarin is taking steps to exploit that demand by doubling its sales force. And in January, the company unveiled a new ad campaign designed to drive sales of the drug. Amarin is also expected to begin a new ad campaign later this year after the Food and Drug Administration signs off on it. Additionally, the company has a lucrative market to itself, at least for now.
“Amarin has recently benefited from the continued face plants of competitors in the field, including AstraZeneca’s (NYSE:AZN) Epanova,” according to FiercePharma. “In January, the British drug maker scrapped a large-scale Phase 3 trial of Epanova as an add-on to statins for lowering cardiovascular risks among patients with mixed dyslipidemia, a disease marked by elevated triglyceride levels.”
The company has also gotten most insurers to cover Vascepa. “Nearly 95% of Medicare Part D plans and…about 85% of commercial plans” now cover the drug, CEO John Thero said in an interview with Reuters.
Goldman Sachs just issued a note to clients speculating that the market's up big today on coronavirus impact potential on the elderly remaining Democrat Presidential candidates, at significant risk given average age approaching 80, air travel and campaigning in crowds, despite modest size gatherings.
JDR
Based on political posts re Trump and Dems, it would appear that sharinky is Chris Cuomo and MikeinDallas is Sean Hannity.
I prefer Poppy and Trish myself.
JDR
Welcome to the coronaviris message board...where's the moderator and admiminstrator?
JDR
Amarin genric filers have 'weak case,' shares could move to $35, says Cantor The post-trial briefs for Amarin and generic filers of Vascepa were filed last Friday, and they read positively for Amarin, Cantor Fitzgerald analyst Louise Chen tells investors in a research note. The burden to invalidate all of Amarin's patents is on the generics and they have to prove that the United States Patent and Trademark Office did not do its job correctly in granting all the patents, says the analyst. Chen thinks Amarin "could win and that the generics have a weak case." As a result, the stock's risk/reward is to the upside, contends the analyst. She believes Amarin could trade toward $35 per share in a positive outcome and down to $9-$10 on a negative decision. Chen has an Overweight rating on Amarin with a $35 price target. The stock closed Friday at $14.67.
Read more at:
https://thefly.com/landingPageNews.php?id=3042867
Amarin genric filers have 'weak case,' shares could move to $35, says Cantor - $AMRN - thefly.com/landingPageNews....
I don’t recall much information on sales at any specified levels from December 13th after hours or thereafter.
I’d also be interested in other longs strategies on re-entry and adding as you inquired. Patient through Wednesday when I began re-entry as well as trading several times between Wednesday and the PM lows Friday morning.
To date no one has posted such responses despite several inquiries.
JDR
TOU Reminders for Stock Specific Boards
You are posting to the Amarin Corp. PLC ADS (AMRN) board. Please keep your post about the stock and company. Do not post about other users or other stocks.
Your post may be removed if it contains off-topic or other content that violates the terms of the Terms of Service.
Hey guys, how about for good...all should be held to the same off topic standards, irrespective of the topic or royalty status.
There are enough arguments and slinging of insults about Amarin and V alone that we can do without off topic BS.
JDR
Nice pick ups guys...added at 14.695 to the 15.15's in PM. May retest low if Dow down 1000 points.
JDR
DM
Picked up 1000 @ 15.15 in PM. Start nibbling here.
I bet you bought the tickets at the lowest possible price lol!
JDR
By the way, prior average cost basis at 11...with the avoidance of a ten point drop, with reaccumulation. I will have lowered my cost to that of many of you who profess to be in at a buck.
I'll endeavor through additional trading to achieve the low water mark of 78 cents that some cite.
JDR
Stoneroad:
I can answer your question with reference to your post of February 7th:
______________________________________________________________________
stoneroad Friday, 02/07/20 12:45:47 PM
Re: None 0
Post # 245126
Anyone who has sold during moments of euphoria on this board and bought during the worst hand wringing during the last year and a half has done very well with AMRN.
_____________________________________________________________________
To your point, sold at 25.90 in AH on 12/13 for reason previously posted, thought a 16.10 average was a good entry point to pick up some trading shares and to begin a process of accumulation of a larger position to replace those sold that were held since 2014 and picked up along the way in both 2018 and 2019 at higher prices.
I am not predicting the range I posted, rather the charts and market downdraft do suggest the possibility of such.
I will continue to accumulate from here on, particularly if the opportunity presents at those levels and others that make sense.
Specifically, relative to your quote- I thought your categorization of "hand wringing" was applicable today and as such pulled the trigger.
I trust that satisfies your curiosity/challenge.
JDR
Should settle in the 13.72 to 15.05 range according to weekly and monthly chart analysis. Unfortunately, pretty close to that upper range at today's low.
This range logically assumes that the general market conditions are supportive versus the market correction further extending into the 20% range from here.
Wild card is that the coronaviris is being contained and not coming to the US.
JDR