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Institutions AKA smart money, have always been short Mannkind.
21.447 million shares of short smart money.
Let's see maybe Friday sales will be 20 time last Friday's sales and Mannkind will finally be able to breakeven.
Biotech companies don't trade on BV, so first of all its hilarious you would even make that comparison.
Book value includes cash on hand, insulin on hand, bills, and debt repayment. Time will tell whether you're correct that none of that matters.
Book value is negative 198.725 million dollars.
A price of 3 is more than 500 million dollars more than book value.
Sanofi didn't want to pay that much when people still thought there was a chance that Afrezza would be a big seller.
I'm never going to say never, but I has my doubts.
You think they might survive to July? You could be right.
"inevitable" doesn't mean tomorrow.
It means sales are less than 5% of the breakeven rate, sales are dropping, loan payments are coming due, etc.
Afrezza sales are down over last quarter.
Q3 2016: 0.573 million
Q4 2016: 1.322 million
Q1 2017: 1.196 million
Cash is being used up at the rate of 8.5 million per month.
Bankruptcy seems inevitable.
It's obvious at this point something big will be announced.
I think the losses will be big.
I think the negative net worth will be big.
What do you expect to be big?
With so many crazy things going on, investor complacency mystifies me.
If you measure worry by how much the VIX is above actual volatility we're seeing tons of worry.
The VIX is at 10.0.
The actual volatility over the last ten days is 2.75.
That's a huge discrepancy. It's very very rare that options are so expensive with so little volatility.
Yes that's it.
So even though today TVIX is dropping, and the VIX is at a ridiculous low, the actual volatility over the last ten days corresponds to a WTF value of 3.85.
Over 12 dollars now. Almost every stock on iHub claims a short squeeze is coming. But it looks like we're really seeing one here. Sort of interesting to observe an actual one happening as one watches.
Why was Mannkind shorted by institutional investors who've made 100s of millions of dollars? Today's trading provides the answer.
A obviously false rumor concerning someone who buys inhalers by the ton hits social media and people rush into Mannkind stock and it takes off.
Since it became obvious January 2016 that Mannkind didn't have a commercially viable product, there's been lots of chances to sell while this stock was wildly overpriced.
Anybody can create a request for a shipping quote, which is all that that is.
But it points to what I've always said, 100% of stock manipulation is from longs.
I emailed Adam F about it, and hopefully the theStreet will publish a scathing article about Mannkind very soon.
I was hoping the image would make that clear, click on the HV30 link on the right.
http://www.vixcentral.com/
Book value is about negative 2 dollars per share, and falling about 1 dollar per year.
Historically when a company has negative book value and their per share loses are greater than the stock price the stock eventually has a Q added to their ticker.
The most noticeable divergence right now right now is that gold and silver are both up for the year while most commodities are crashing.
Compare gold that's up this year to gasoline which is way down this year.
I can tell the difference between days that George is dumping shares as fast as possible and days when he's not.
It looks like he went on vacation today, and is preparing to get back to work after the reverse split is complete.
You know what's up this year?
USLV is up.
SLV is up.
UGLD is up.
GLD is up.
If you want to see commodities that are really crashing look at gasoline or grains.
Precious metals are some of the best performing commodities for 2017.
The only thing they can say about Afrezza is that it's a clinically effective, non-invasive inhaled mealtime insulin product.
Mannkind needed a senior vice president to come up with that? I bet the employees are standing around the water cooler laughing about management and then heading back to their desk to send out a resume.
The whole News Alert is about the benefits of One Drop.
http://ih.advfn.com/p.php?pid=nmona&article=74501347&symbol=MNKD
You don't spend money to sell stock, you raise money.
If Mannkind had been raising money, instead of shorts raising money, Mannkind would have almost a billion dollars in their bank account.
Shorting stock is a zero sum game. Whenever one person spends money the other gets money. Whenever one person loses money the other person makes money.
Shouldn't spy be like concerned or something about the recent earnings reactions...? Spy
I suppose, but about 2/3rds of the upward move in the S&P 500 this year is in Amazon and Facebook. The other 498 companies contribute about one-third.
The S&P 500 can move higher without there being a broad-based rally.
People on social media keep posting their Afrezza results claiming it's the best thing in the world. They're very upset that someone responds by posting the Afrezza trial results that indicate it's worse than the competition.
Afrezza provided a mean reduction in HbA1c that met the pre-specified requirement for non-inferiority margin of 0.4%. Afrezza provided less HbA1c reduction than insulin aspart, and the difference was statistically significant. More subjects in the insulin aspart group achieved the HbA1c target of ≤7%.
http://www.centerwatch.com/drug-information/fda-approved-drugs/drug/100014/afrezza-insulin-human-inhalation-powder
Regarding Mannkind's CCO Mike Castagna and his comments on twitter regarding insurance problems and Afrezza. To me it doesn't look like these Amgen executives have the faintest idea how to help a struggling company succeed.
risingskepticism
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This is the kind of stuff that just gets on my nerves -- "Meg" is having trouble getting prior authorization from BC/BS:
bit.ly/2pv4i6B
"#blueshieldofCA is STILL not approving #Afrezza for me. It's round 4 now. After this it's the state commission."
What does the CCO advise but THIS:
"Meg keep pushing @CVSHealth is the ones who are ultimately blocking @BlueShieldCA. PWD shouldn't have to fight for their health."
Does this guy ACTUALLY think that CVS is "blocking" BC/BS? He's ALLEGEDLY a PHARMACIST and he thinks that CVS is BLOCKING Blue Cross? Seriously?
In any case, Meg CORRECTS him:
"Last time I spoke to them, they told me that @BlueShieldCA made the decisions. What's true???"
Of course, THAT is true, and one would think a PHARMACIST CCO would KNOW that!
But, MORE IMPORTANT, the CCO doesn't explain WHY the PATIENT has to "push" for approval! WHY isn't Mannkind doing that?
Call me whatever.
My thanks (again) to you and everyone else here. If I may repeat myself, does the green line and red line in the vix chart mean that the commercials are constantly shorting and the large traders are constantly hedging?
I don't it's quite that simple, because people are arbitraging the difference between the price of UVXY and it's real value.
The person who is buying UVXY at 13.46 right now might not know that its net asset value is really higher or lower. I bet lots of the futures trading is really being done by options traders, volatility ETNs traders (or their computer programs).
No problems.
Actual volatility over the last ten days corresponds to a VIX of only 7.25.
It's at this link -- DP.
http://www.vixcentral.com/
UGLD is the 3x gold price ETF.
There's UGLD and DGLD and for silver USLV and DSLV.
If you're focused on book value, ...
The company has been playing the same game for a long time. Therefore it's interesting to look into the company's past. Periodically they sell their ships for about half what they paid for them to other companies owned by the CEO. Dryships then takes a huge loss, and the book value plummets. George essentially steals the company's assets.
Here's one of the reports:
http://worldmaritimenews.com/archives/171394/dryships-sells-17-bulkers-rest-of-the-fleet-up-for-grabs/
There are some new S&P500 tracking ETFs coming on the market.
Before 3x was the most leverage you could get. But the new ETFs will have 4x leverage.
The symbols will be UP and DOWN.
http://in.reuters.com/article/sec-etfs-idINL1N1I500R
I'm not sure exactly when they'll start trading. It'll be interesting to see if they'll provide enough excitement that some people will trade them instead of S&P500 options.
For quotes:
May here ^vixmay -> https://finance.yahoo.com/quote/%5Evixmay?ltr=1
June here ^vixjun -> https://finance.yahoo.com/quote/%5Evixjun?ltr=1
or you can see the whole futures curve here: http://www.vixcentral.com
Front month historical quotes: http://finviz.com/futures_charts.ashx?t=VX&p=d1
The CAD soared today while the USD tanked. It'll take more US dollars to buy a share of Banro today, so Banro is up in terms of US dollars.
Frankly the effect on Canadian gold stocks of currency changes is hard for me to follow sometimes.
Here's a quote from the great Bob Marley's nephew who is Chef Charles Mattocks and who is doing a diabetes TV series called Reversed.
... I have met so many with diabetes worldwide who are hurting and dying, I knew I had to do something and wanted to leave my own small legacy. Thankfully, we were able to find a great company that has a wonderful product for diabetes, Afrezza. They came on board and thanks to Mike and the team, they helped us get this show to the masses.
http://www.huffingtonpost.ca/shahzadi-devje/conversation-with-celebri_b_16362974.html
Here's a video by Charles Mattocks. His shtick is that Western food is bad, and that Westerners are overweight and lazy.
Weirdly enough, since he's sponsored by Mannkind, he complains about doctors pushing medicine on people who should instead be changing their lifestyle.
It blows my mind that gold is dropping, given the dangerous times we live in.
Commodities are probably the hardest thing in the world to trade, and gold is probably one of the hardest of the commodities. How does someone in the USA tell how much gold demand drops, if it drops at all, when India claims it's instituting controls on gold imports?
Or looking at it a different way, since gold is a global commodity, do people in China, or in Switzerland, think the world is more dangerous today?
Nothing would surprise me about the price of gold.
(over there) They posted a link to a diabetes ad:
https://www.ispot.tv/ad/AYDp/toujeo-journal
Almost one full minute is warnings.
I don't think ads would make much difference in Afrezza sales but it would be very nice to have proof either way. Please Mannkind run some ads.
However, being a pass-through has nothing to do with whether they own the assets.
No, the assets, the mortgages, are put in the trust.
From the link I sent you earlier:
Freddie Mac may from time to time (i) retain, reacquire or purchase mortgage-related securities and other mortgage-related assets that are referred to herein as “Assets” in accordance with the applicable provisions of the Freddie Mac Act, (ii) as Depositor, transfer and deposit such Assets into various trust funds
They get it, because they're in the links I sent you.
That image also shows they get it. The trust goes with the MBS.
I'd really like to help, but I can't tell what you don't understand.
A passthrough passes through the interest and principle of the mortgages (your image calls them assets, but same difference, they're not owned by a bank) that are in a trust. So it doesn't make any sense to separate the three, they're inextricably linked.
Will you at least learn that a bank can't own the assets (mortgages) that are owned by a trust?
I said Fannie Mae doesn't own the trusts
Then they don't own anything at all because you can't separate mortages, passthroughs, and trusts. After all that's the whole point of putting the mortgages into a trust that backs a passthrough.
You said that banks own the mortgages.
It's vital to understand that mortgages, trusts, and MBSs can't be owned by separate people. They all represent the same asset(s).
They do not own the consolidated trusts. Write that on a chalk board 100 times and maybe it'll start to sink in. They do not own the consolidated trusts. Never have and never will.
The trusts are what backs the pass-throughs.
There's not two separate things that can be owned trusts, and MBSs.
So they've sold a lot of what they own recently. But that doesn't mean that their business hasn't historically been buying loans from banks, putting them in a trust, and then securitizing them into a mortgage-backed security. Subsequently they've sold many of the MBSs.
That's what's been happening for months
For months and months and months.
Next week the bull market enters its 99th month.
I've been trading since the 70s, never seen anything like this before.
They were indeed worth trillions in 2004. The trusts are nothing new.
http://www.fanniemae.com/resources/file/ir/pdf/quarterly-annual-results/2004/2004_form10K.pdf
The MBS that FNMA created are backed by trusts, which is the bundle of mortgages that FNMA bought.