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crazy...you only have like 60million outstanding shares
must have been the reason for the bad start to trading today
they tried to support it at .46 but to many were exiting...funds cant keep holding a falling stock.....the cash burn for q2 plus the fact that everyone knows debt is a problem.....if revenues grow it may help some as far as support....but still big hurdles ahead imo
there it is..broke hrough .44
start of the new qtr...it looks like beginning of positioning of 2nd half..i hope its a move into bio's
still has the tendency to go lower...if it breaks below .44 it may move toward the .40 or even move into the .30's...so far imo this has been a sign of an exit from the stock...we'll watch to see when the bids and ask reverse...meaning the exiting has stopped and ptx is in the hands of the normal vibes of the penny traders...which can be a good thing
rudyboy i was reading your post a few days ago when you kept saying dilution...i was watching what you were referring to...it is not dilution..i know you thought where was all those shares coming from...but what you were seeing was selling, and a lot of it...it was overwhelming the bids....tons of sells....imo it was institutions and funds making an exit...they cant be responsible and continue to lose money...at some point they have to say...we gotta cut our loses and move on...so i think they could have been selling to get rid of the loses in their 2nd qtr and not carry them forward into the 3rd and 4th qt...we will see if the selling subsides or continues tomorrow and into next week....the bar graph has been solid bear tue, wed, and today, i just dont remember what mondays was for sure...so watch to see when it begins to get some green again
sorry you feel that way pharaoh...i sold 40K shares....i am just telling you that the stock went into bear mode big time tuesday...and was yesterday , and is again today....i'm looking at it right now..the same as yesterday and tuesday...you said honesty...you know i am telling the truth...its been solid bear mode...when it begins to go green i will post it...
well today i am glad i sold my shares to a buyer at a higher price...got to fall until it finds a new support foundation...this is an example of a stock that institutions have sold and not one they are buying or have confidence in...even if it went up some it would not hold it because the prospects of the stock have to change...you know what happens when a stock is motivated by the penny stock handlers...unless some good news comes out its a buy and exit usually pushing the stock lower..they dont care about your stock...just a fast buck...however if news came out they can you can ride them to profits....
just to let you know my feeling..i think the institutions have sold or are selling...as articles have alluded to the fact that not many institutions touch penny stocks...dont be surprised to see this drift down toward .40 or and break into the .30's...unless there is some news that is my expectation until we find another support line
my reading on tuesday was bearish all day long and appears to have been since monday....when you struggle just to reach the previous days high each day and end lower each day that isnt a good sign to me...unless there is some very good news that changes the current trend for good then I expect a downward trend to continue...the support is not good...the sell overwhelms any move up..it has since monday...
when they came out with the 1q report there was an article in print entitled "The Race To Zero" about PTX...we fell like a rock from over 1.00 to in the .40's as you know...these guys must raise revenues...they still had 10mil to draw down on their line of credit..which was initially 50mil I think....if the 2nd qtr doesnt show good results i can imagine another trimming...as i said, the selling this week may be some institutions getting out before the start of their own 3rd qtr....debt has to be serviced in one form or another...but somebody has to pay
as i watched the stock last week someone came in at .46/.464 and began supporting the stock..not only supporting but they kept raising the bid price to move the pricing higher....now they can barely hold the previous days price on two strong days in the market
PTX debt....check this from 10q
As of March 31, 2016, the Company had total liquidity of $47.4 million, consisting of $36.6 million of cash and approximately $10.8 million available to draw under its $50.0 million revolving credit facility. Total principal amount of debt outstanding at the end of the quarter was $339.1 million and net debt was $302.5 million. The total principal amount of debt consists of $195.1 million of 12% Senior Secured notes, $130.0 million of 4.25% convertible notes and $14.0 million under our revolving credit facility.
so you think they wait until then...everyday adds pressure for a remedy...wait until the 2nd qtr results....and see how much cash they have burned through Pharaoh...you know what could be happening is that some institutions may be doing the selling to get out of PTX before the 3rd qtr starts and not have any exposure going forward...a large holder/holders are the ones advising PTX....they dont want to lose any more money on PTX
the need to raise cash pressures PTX to sell at more favorable terms of the buyer...they know how much time PTX has until they run short of cash..otherwise if PTX decides to try to make it on their on then raising cash is dilutive to the pps and at this share price that is not good...or they could do a R/S and say they were doing it to meet the requirements to remain on the market as they are and then authorize more shares and raise cash that way...imo
So who on this board doesnt believe PTX has to raise some cash soon
i did sell every share of PTX i had...no fantasy...no 5.00 or 8.00 per share...just telling what I think may be the cause of the fall...they burned through way too much cash q1 and according to how much they burned through this 2nd qt as to probably when and not if they have to raise more cash....this could cause a sell of PTX...
yeah i know...with the action and the seemingly endless supply on the ask side they were continually tightening the screws and wore the bid out...lets be honest here..we both know institutions are probably selling hard...some on here post of the buying last year and last qtr as if it were just recently, but it isnt...i think people are selling and the price is dropping because of it...volume tells the story...there has to be a new reason to buy or it may drop to the .30's and therefore force the institutions that are holding some shares to sell
now that is true...but PTX has the cash burn hanging over it for now...I think that is what is wrong...they are going to need cash...there has been no moving higher...a jump higher then selling back off to the same level as before..no new higher bottom..from the pounding i saw yesterday i gave an answer to your post and said you will probably know whether it is going to trend higher or lower by today or tomorrow...well today appears to be that day....
Cash burn....Cash burn is more than likely the reason for the selling...they went through tooooo much cash in Q1 and we all have known it...so the big institutions probably know PTX will burn through alot of cash in the 2nd qtr and then everybody knows they have to have more cash...imo
I look at it as people selling what they own and driving the price down..and they have been selling big time..then someone is picking the stock up but those sellers just keep selling it down
although i may not agree with rudy he was correct that the asks were overwhelming the bids for a few days and the bids had no chance...also the supporter from last week lost strength...ptx needs a reason to move higher
the highs were lower and lows are lower...i sold everything i had...the flow appears to be against the buyer right now...stock is weakening daily
the bids began weakening, volume lowered, the ask pounded the stock and kept lowering the ask while the number of bids weakened
Well Pharaoh there is the answer to the post i posted you yesterday that you would find out probably today or thursday unless there was news...
you may actually find your answer tomorrow or thursday....i am going to say by thursday....if they have some news they better be telling it and soon...I will probably respond to you tomorrow with the why's and the way i think PTX is going to move......
board should go into TOWNIE mode..and stop posting...what is posted here means nothing anyway...there are no investors here to buy...havent been since 2014...imo the r/s is not meant for us anyway...its meant for the big dogs who converted to the tune of 70mil shares soon to be 4.6 million so they can sell them...its all for them...not for us...imo...good luck guys and I think I will go into Townie mode until some great news is released...which could be tomorrow
the mm's supply the liquidty for the market
How can you not buy..how can you not know PTX is undervalued when you see these big guys come in and support this stock...I thought that is what you were supposed to be looking for....so yes I added to my position today...
Guys I bought quite a bit more today....
as i posted last week...i sa somene come in at .46/.464 and begin supporting the stck price big time...the did friday also...hopefully ptx breaks out soon...we know what positive news can do
ome thing i have heard is that there is a big meeting concerning Medicare payments going on today....this board cant do anything other than make recommendations and that could be holding the sector back...after today and into next week if the sector begins moving up i expect the top to come off the ask...if not,,,well we probably get beat to death...people can be glad that someone started supporting the stock at .46/.464
some already sold...so probably no resistance until others buy and sell...could go to .05 real fast at very fast if we have a MM...as the days go by i would think we begin to see some movement
looks as if they were selling hard into the strength...our supporter returned thankfully but I dont know if he can move it over .50 again or not because they are selling heavy into the strength today...be glad the buyer is here because i dont know what the stock price would be without them...someone has been hammering this thing...we need some news to change the trend on this baby
Wonderful, wonderful, wonderful to see that 1M bid....it would be great if it were a MM..Could be the professionals they alluded to...but lol 20K isnt nothing to them...hope they start moving that bid up and then maybe see some fireworks
CAPC lesson for today
If a tree falls in the forest and no one is around to hear it....does it make a sound......
I think this fits CAPC perfectly imo
cant see this continuing long...looks like a breakout/breakdowm...after it finishes trading in the range i expect it to break one way or the other and right now that big supporter is pushing it higher...ptx has its supporters and i expect them to win out with the news of the institutional holders....but who knows for sure...sometimes the move down on their own and you cant stop them and sometimes they move up and you cant stop them...which way is ptx going to move...my guess is up
actually the stock supporter has returned today....this is his 2nd day of support
Well someone started supporting PTX @ .46/.464