Exposing Pump and Dumps - All my own opinions / not financial advice
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I'll buyback my shares at sub $1
Yes. I still think if you want a crypto play this is the best way to go about it. At least you know there is a method to Novo’s madness that isn’t nefarious unlike BITCF
It’s realistic to assume JNJ will drop itn
You’re missing one thing, JNJ is gonna drop it because the drug is both a) garbage and; b) has a horrible safety profile
I have met the CEO; he will get himself and the company in trouble. Again, he is the Martin Shrkeli of cannabis, you can't invest in it. There is another company called Acreage, with a great mgmt team, that will go public in Q4 17' or Q4 18'. Also GTI, although not as great of a mgmt team, is still pretty solid.
I met the CEO, Medmen is uninvestable; he is the Martin shkreli of cannabis
That’s not how it works bud.
Good news = short squeeze as shorts buy to cover and Kong’s buy more
How can evaluate biotech if you can barely formulate a sentence? Come on dude
So why is the stock down?
This won’t ever be. Sell it and buy Galaxy Digital at IPO in mid May if you want a crypto play
If I'm wrong it won't affect the stock price bc ultimately JNJ will buy and if shorting a stock kept the price low it will only keep the value of the company lower for JNJ therefore benefitting everyone! So what on Earth are you talking about?? It's a bet, I think the drug is trash given safety profile and stat sig trial data and you don't. I think JNJ will drop and you don't. The good thing is we have until Q3 to find out who wins the bet!
Shorting is healthy for accurate market pricing. It's not betting against innovation, it's betting against fraud, bad mgmt teams, and over valued opportunity sets... That's why shorting high short interest stocks is a positive alpha factor, not negative.
I am not fooled. And don't be fooled yourself as I'm not down on my short. I'd be adding if it $4.5 on some silly momentum, which is my cost basis
JNJ is currently slated to issue a continuation decision by Q3 of this year. In addition, the positive string of FDA decisions for Imetelstat (Orphan Drug designation and Fast Track status)
I think JNJ will ultimately drop it, so that's where we differ. Time will tell!
I mean I’ve been right on LFIN getting halted, BITCF plummeting after it’s Jan run, TRTCD collapsing already this year. Now I’m saying GERN is the next to go. So this broken clock has gone 3/3 in Q1 on shorts.. buyer beware
Every biotech company does puts their pipeline drugs on its website. Nothing to read into. I would look at historical safety profile of the drug and it’s pretty easy to assume history should repeat itself
Check my track record of my postings when I’m short something. I’m never wrong. We don’t need to bring up yours if you don’t want to
I have no opinion of GBTC. It just traded at a premium to NAV Bc it’s easier to trade than BTC and BTCC. That’s not a company, that’s just a tracking stock
Besides all of your investment? JNJ will drop it and when that happens this is a zero
The only legitimate Crpyto play that will be public in 2H of May. I’ve done my work, as you can see, and I’ve been short all public crypto cos Bc they’re all BS. This one is not. Institutional backing, institutional guy, great team.
Lol nah bro take the tax loss and roll it into galaxy in mid May... I bet that trade works
Happy for you guys!
Now don’t get greedy
Can someone answer me why people have faith given the historical safety profile of this drug? I want to be long but it really worries me Bc they’ve had this drug shelved before for safety
See my posts which discuss Mgmt (Janice has a great post on it too), auditor, coins, and company background. If you want crypto, go buy Galaxy Digital on May 24th
Why are you so confident given the history of such a poor safety profile?
On the sidelines, thinking about being short Bc this drug isn’t safe and has been put on clinical hold before. So I’m curious why the bulls are so excited here? If there’s something tangible, I want to be long it!
Doesn’t the safety concerns around Imetelstat worry you?
OSTK’s Patrick’s checkered past. https://whitecollarfraud.blogspot.com/2007/10/patrick-byrne-ceo-of-overstockcom.html?m=1
But the SEC clearly cares more about BITCF and suspending BITCF over OSTK is the way to “dampen excessive crypto appetite”
Lolololol Come on
If by bought you mean JNJ drops it, I agree
How does anyone have any faith in this company given Mgmt?
"dampen the excessive appetite for cryptocurrency stocks." That is hysterical. So they chose to suspend BITCF, a penny stock nobody cares about vs OSTK, which was the most hyped crypto public market play where the CEO has a very checkered past (securities fraud, traveling with a gun, etc)..... I mean come on. The SEC didn't target this company and if they did they would have suspended, KODK, LTEA, LFIN (the worst), CMCM, etc etc....Your argument makes literally no sense.
Lol no dude this Mgmt got the company suspended... for wait for it.... fraud!
Question: who was right? Me or you since we’ve been posting! Answer: me - the stock down 80% since I started posting.
I've posted many many many times about this. Janice even posted a detailed history. Go back and find them
So go buy AltCoins or BTC/ETH where you can make MoM without relying on a company that was an actual minining company 4yrs ago, with a shady mgmt. team and auditor, that was suspended? Sure if BTC rallies back to Jan highs you can make money but if BTC doesn't move up and oscillates between 6k and 12k, as it has since Feb, you're screwed. Just seems excessive to bet BITCF if you're bullish crypto. Just buy crypto or one of the players that aren't suspended. Galaxy going public in May, why not but that?
Lol no I’m still lurking... as you saw I shorted LFIN and covered at $10 as well. I’m pretty big in pot shorts now too.
Again, if you remember, I wanted to cover around $0.20 and I covered slightly higher Bc of cost of borrow. I still think BITCF will ultimately be worthless
Someone in size is selling. Avg volume was <50k shares for 2-3 weeks at around $0.50 now volume has 4x the last 4 trading days and stock has been cut in half.
For full disclosure, I was short and covered 70k shares M-W.
The long story is broken, ICO market is dead, BITCF assets trade less than $1k per day, SEC is going to come crack down on more ICOs and LFJN next
It died a couple months ago, people got a false sense of hope, there was a dead cat bounce, and now it’s dead again
My bad! There are like 10000 CryptoXYZ names that post here so I was confused
Then your bet is on a crypto rally so why not buy alt coins or BTC? Why not buy OSTK LFIN KODK CMCM NVDA or AMD? Why buy a suspended company with a shady Mgmt? I just don’t get that? If you’re looking for beta to BTC, why not buy the “best” public assets or crypto directly?
That is unless your cost basis is >$1 and you’re stuck in love with your position
Maybe? Good luck dude. I’ve been yelling to sell, with facts, since before it was suspended and clearly you listened. I’m still telling you this is a zero but I don’t want to pay $0.10 a share to short, which is why I covered. Take your tax loss, move on, wait for Galaxy IPO and make it back. #1 rule in investing, admit when you’re wrong and move on, it’ll be the best loss you’ve ever taken.
Again, I have zero shares short now but I’m short LFIN, KODK, OSTK, and CMCM.
Again, I’m not a perma bear on crypto, I plan on investing a lot in Galaxy when it goes public. They’re best in class, with a gold standard CEO, signing contracts with big institutions, not other frauds like PQEFF
I was short 75k shares sooo that's a lot of volume