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.
Stocks that trade like penny stocks eventually become penny stocks.
A beautifully executed pump and dump, I must say. They managed to simultaneously scare off the weak shorts, sucker in some new longs, and reload for another long short run! Zero here we come!!!! Congrats to all involved in a well executed scheme. Well done fellas, well done!!!!
He'll be fine. He can lose the 5 million without worry. The difference between his loss and the common shareholder's loss is that his is not permanent. After a period of bankruptcy, the company will do a new offering of shares and he will be given 5 million in shares. He has no risk.
Conveniently dismissing the 31 billion in debt?
Didn't have to wait very long. Holy crap! Didn't check it all day until now. Wow. Mind blown.
Rumors of bankruptcy are always greatly exaggerated, until they aren't. The article you referenced seems to have been written by someone desperately hoping to recover some massive losses.
Always? Even after bankruptcy?
At least he's gutsy
Sorry, not bringing charges, opening an investigation
Just to be clear, are you saying that the DOJ is retaliating against the FBI by bringing charges against the former CEO of a Canadian company?
Ultimately, no. Shareholders get little to nothing in bankruptcy. Which is where I think this is headed. Probably in a hurry.
It should be quite apparent by now where it's headed. Don't ignore the obvious in pursuit of a big score that is very unlikely to happen
The weakest in a struggling sector get eaten alive.
No. I meant the fall accelerates. Crappy companies with massive debt go bankrupt. It's what they do
It only accelerates from here.
Fat lady's warming up her pipes!
Spot on. The debt cannot be overlooked, and isn't going away. The hole only gets deeper and the value of the assets decreases as the company becomes more desperate and bankruptcy becomes the only option.
Better safe than sorry. Don't know how far out your puts are, but this could get annihilated by the end of the year. I'm talking 10 bucks or lower. If earnings are worse than expected it'll drop to 15 in a blink
Can it hold this meager gain? Unlikely. Trend is all spikes get hammered
It's not a bad thing if you get in at the bottom. My point was it's not much consolation to anyone who's been holding for a while. Chanos has the more compelling argument in my opinion. Time will tell
Great! Those who bought it 6 months ago can break even in 3 years. Chanos thinks it's going to zero.
No problem, just took my eye off the ball and missed a good opportunity to short it. Big resistance at 22.50.
Whew. Major pump and dump going on
Glad you made a nice profit. Nothing wrong with that.
I don't know about 18, but below 20 before earnings is certainly in the cards. Nice bounce today to get even for the week, or close to it. If it finishes up for the week longs can maybe breathe a bit easier.
I think it's interesting that they chose Election Day for earnings. Obviously it could make a big move, one way or the other, after earnings. But a Clinton presidency will bring increased scrutiny to the pharmaceutical industry. And Sanders assuming a more powerful role in the Senate will also hurt. The sector will be under pressure, and the weaker companies, and Valeant is perceived as weak at the moment, will suffer the most. This is my reason for being bearish going forward
I agree. Facts are facts. The stock is down over 90% from its high. The pace of decline has accelerated to 5% a week(on a good week). Follow the trend, it points downward. Keep in mind, very few stocks ever recover from this kind of beat down. Shareholders lose everything. Certain cyclical stocks, commodity stocks like U.S Steel for instance, can recover from large percentage losses. The pharmaceutical industry is not cyclical, it's highly competitive, and poorly run companies do not survive.
I guess if you exit at 18.1818 cents, your 1100 shares will be worth $20
I've heard this fantasy before. More often than not the shorts are on the right side of the trade and the stock goes to zero, bankruptcy, reemerges, but shareholders lose everything. This company has a failing business model and insurmountable debt. The water is bloody and the sharks are ready to finish this thing off. Soon it will be obvious as this bloated farce begins to circle the drain
Thanks. Read it.
13's the new 15. Soon 11 will be the new 13. And then it will fade to zero along with their cash. Drug failed. It's all over for this one trick pony
Short is the safe bet between now and then I reckon. Count on lots of negative press, speculation on bankruptcy etc. It's really weak and should drop another 20% or so before 11/8.
November 8th. Will continue bleeding until then. Should be around 17 bucks.
Report due after close? I thought it was am
That's right. And despite all of the evidence to the contrary, some bullheaded folks couldn't see the writing on the wall and lost their entire investment. If you want to gamble on a big jump to the upside here make sure you're protected to the downside with long term puts. Knowing exactly what you stand to lose takes the panic out of risky stocks. This stock has lost 90% of its value, the remaining 10% is a slippery slope
You may be right. It could rebound. But the debt and the chart and the political climate tell me sub 10 is possible. I've seen the "never gonna happen" happen many times.
Sure, it could pop if the report is good. But given the trend, a bad report could be the last straw and might send it in a free fall to 6 or 7 bucks or lower
Never were in business. Never had a product.
Run away
She's been blowing for years. Sucking too
Nice non sequitur
There will be buyers when there is evidence
of something worth buying