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But it won't trade for 24,000. It'll split first.
As per my previous Q, anyone have an idea of how high it'll go before a split?
The $24,000 number is split adjusted.
Of course, but it has done reverse splits. It can do forward splits.
Anyone have any guess on if and when NUGT will do a forward split?
It's getting up there and I don't see the fund letting it go much above 200.
Not sure how they manage that.
Nothing interesting divulged at the annual meeting this morning.
Yep, it's not like it's a drug that killed people or something.
People were probably in it for a quick hit and now taking the loss and going into something else short term.
Low 4's is a spectacular entry for this.
If I hear or see anything interesting I'll make note of it but I'm sure someone more responsive than I will beat me to it. Acad could be bought out by Friday with all the rumors flying.
I did add 1000'shares to my position just this Friday.
The shareholders meeting may yield something interesting. I'm going to go.
Appears as if the cup and handle is coming to fruition.
As posted before the handle could breach 50 within a month or two, however IMO it 'should' take some significant news to do that.
Agreed
I'm surprised at some of the stuff SA will post.
That guy seems pretty dim. I don't think any astute investor or trader would be influenced.
Haha or maybe he read my post on cup and handle and, hoping to aquire more shares, or cover short, opted for a rapidly thrown together article to help slow the move up through 30.
One can read articles and one can 'read into' articles.
It would be smarter if management waited until the SP reached 50 on its own and then sell for a much premium as possible. Perhaps prelim ADP data, scripts and/or rumors in general would get it there.
Hillary Pantsuit remains a major headwind for the sector however.
When a sector is bearish its prudent to use tech chart data as a barometer.
Acad is demonstrating a most perfect cup and handle formation.
It's almost as if events are happening to create that sort of bullish formation,
esp the handle. The handle took that dip after FDA approval and then turned up after the earnings call.
Now it's 'supposed' to hit resistance at its recent high then surge past it.
Doing the math one could extrapolate that if 'should' hit 50-52 on its own.
A buyout of course can destroy the cup and handle formation.
However if it happens at the terminus of the handle, in this case
just above 50, it would provide a real premium for shareholders, otherwise it would typically languish around there.
So perhaps with positive events (other than a BO) the SP hits 50 and then they sell to Biogen and they use shares to buy, since they are presently undervalued.
I think with the recent article re BIIB and perhaps TEVA looking to bid ACAD may have put the cabash on price erosion.
I covered all of my short today and will go long acad for the third time on next biotech sell off, probably Thursday or Friday.
They won't 'sell ACAD in May and go away'.
More than likely they'll wait for Rx numbers, look at any off label numbers and/or perhaps wait for ADP results.
Appears the market shrugged off the pricing info.
No catalysts for months so back into free fall with a cushion at 18?
Game changer.
Maybe Davis drank some Ayahuasca and found religion...
Agree but probably at a price lower than we see today.
Management will nearly crater this thing and when it hits low teens B Brothers will wake up.
They'll sell to a solid team like Astra Z or Biogen and that company will leverage their new asset the way Davis and clowns never could.
They and Bakers deserve this and more after that cc.
We should all short as much as possible tomorrow at the open.
Don't they have another cc today?
More opportunity for them to display their ongoing pandemonium.
Bakers must feel like babysitters, but it's really their fault for investing In the first place.
This could be a significant loss for them.
No I don't think a buyout.
If any potential aquirer listened to the call and saw how inept the 'team' is there they would have to say to themselves "wow, these people truly don't know what they are doing. Even if we do great
DD, what if we don't uncover everything.
Let's wait until the market takes it to low teens or below and then make a lowball bid to Bakers".
When stock hits low teens and Bakers fully realize their mistake they will then sell.
Let's say it goes to 12. Bakers sell at 20 and take the loss.
They invested in juvenile management.
I wrote a letter to their investor relations thanking them for the opportunity to short before the call was even over.
No price yet they raised $100's of millions to hire a sales force.
The sales force has got to be laughing at their bosses. I am.
I was long then short then long then shorted big when on the CC Davis said they couldn't figure out how to price it, like they weren't even expecting approval. That demonstrates gross incompetence.
He also said that when they finally come up with a price, in June or whenever, that they feel uptake will be really slow. I would have to guess he HAS to be short himself, or is mentally incapacitated to say such things.
He sounded like an imbecile so we had no choice but to short.
Bakers should have fired him during the call.
They are very very confused on how to commercialize.
We don't need any help.
Davis and clowns are all we need. They speak again tomorrow you know.
Could be good for another 2-3 points down.
"Hey guys sorry. We got caught off guard by the approval.
We're going to get together and really try to figure out how to price this thing we have".
It will never see 60 or its all time high again.
Bakers made a mistake and didn't forecast political headwinds mixed with junior management.
There really isn't a floor here so short interest should increase until mid to low teens.
Extraneous factors are of course helping to bring down biotech and with it ACAD, however add to that managements continued and predictably ongoing missteps and you have the makings for a severe downdraft the next 2-3 months.
Eg, they have what, over 100 highly compensated reps in the field.
Let's say they are at a docs today and the doc asks them the simplest of all questions, 'what's the price?'.
And they can't answer because management hasn't got that far yet.
Despicable.
They are the laughing stock of the industry, and THAT isn't fully baked in yet.
Wait until he speaks again tomorrow.
If longs are lucky! They wait too long and they will be bidding it at today's closing price when it hits mid teens in a month.
I dont think the Bakers had any idea how bad this management was going to be.
Uli and Stephen both nightmares.
On the conference call I tried to rewind when Davis said they couldn't come up with a price, then I realized it was live and then I realized what a great short this was going to be in a few minutes.
First they couldn't figure out how to manufacture and now they can't figure out how to price. Wow.
The market needs to keep punishing the Bakers for not taking evasive action.
So it will.
Recovery?
This has turned into a shorts wet dream.
Did you hear Davis on the cc?
They haven't thought about a price yet and it's approved.
He sounded like a babbling 12 year old.
Can't believe Bakers haven't axed him.
I'd take the job. For a day, and sell to J&J.
Or maybe Bakers went senile.
Look at this thing tank!!!
And zero catalysts for months!
Poor people who bought this above 20 or so
Dumped it all and went short at 33.
This thing hits teens soon. Shorts aren't going to have to cover for months.
Sell and short like no tomorrow!!!
Should have shorted. Dumping all shares but bid tanking.
Will revisit late in year.
Stock is dog status.
Geese people are shorting it out the gate.
Mid 20's by mud week?
Shorts can sure cover very comfortably!
That's about right.
Shorts covering and people selling the news are probably close to equal. IMO we get a bump up but doubt it would be over 10 percent. If biotech is down Monday it will try to go down with it. If an ETF holds shares and they get hammered, they have to sell acad shares too.
But it should run into and during commercialization
I don't plan to sell many shares next week. We'll see.
But for fun I put in an order to sell 5000 @ $100.
Maybe something weird will happen.
......but the price action today is absolutely horrible.
Either someone knows some really really bad news or the PPS is simply going to trade in tandem with IBB, with approval being a non-event(or a 'sell the news' event like I've said before).
More than likely though it's approved with a ton of restrictive BB labeling.
I've read on other boards that it is certainly possible that the FDA does a first and actually restricts off label use, thereby limiting its market to about $300 million/year.
They have to appease the sell side in some way or no financial favors.
Guessing nothing today unless perhaps after market closes.
More likely a PR late Sunday or, since it's government, they wait till Monday.
Being a realist though, I could very well see a delay.
Then of course there's the underlying rampant fraud at FDA and all the funds they are linked to.
Perhaps one of the voting officers needs to set up a new Swiss bank account, but is it because a fund is paying for a crl or perhaps the Co paying for approval.
Sorry, I've just seen it all.
My guess is we get news on Monday.
Depends on if and when and what type of approval.
What if FDA limits its use to just PDP? With a nasty label?
What if they delay?
What if the paid off officers have enough leverage to veto an approval?
Yes I believe I highlighted that last week.
The one downside we have to take into consideration is the rampant corruption at FDA.
Look how they are obviously playing Sarepta.
It's clear a large hedge fund is directing them on what to do in order to take advantage of price swings.
Yes, the WSJ is on to them with their recent article however profits speak louder than press.
If I were a large corrupt hedge fund I would pay dearly for a CRL on Pima. I mean look at the short interest!
Then after profits taken on that short, go long and pay the officers to approve next time around.
I think we would have to be quite naive not to think this isn't quite possible if not probable.
.....expire when?
Probably not on the day of the exercise.
Why not wait until approval?
Unless of course the expiration date was near last Monday when he exercised.
Leslie Iverson sold over a third of his shares this week.
Definitely not a good sign. Even if a planned sale they can modify that to a later date.
That was over a $1 million sale so I'm guessing either a delay or something is wrong.
Yep and went long. If ya can't beat em' join em!