TFoil - I think your sentiments are correct...
I would add Adage is managing $40B in equity assets and ADXS is just another pimple on a gnats butt for them but still has been contributing to the purchase of the private island near Bora Bora Phil Gross has his eye on.
We’re roughly in step 3 of the leather bound Adage handbook called “Manipulating markets while stylistically making money both coming / going and looking darn good in your $4,000 suit whilst doing it”. Witty foreword written by the SEC commissioner.
In a nutshell...
First invest creating positive reputational buzz, run it up quickly on pure wild eyed speculation, establish a big short position and drive it down hard until you bottom it out at $3 or $4. Patiently time the next rise to coincide with positive news you know is coming and then apply the proper accelerant to get to an acceptable exit point. Adage history supports the approach.
They travel with a group of usual institutional suspects who are either co-conspirator sharks or ramora like institutions who know good things happen, and there’s money to be made, when the sharks show up.
But take heart long suffering LTSH. Institutions, 108 of them give or take, are still holding over 40% of ADXS shares for a reason. The final step in the playbook hasn’t been executed yet. I’m pretty sure if there was a whiff of existential threat to ADXS and their investments, FMR not withstanding, they’d have all cut and run by now enmass.
If you insist on enjoying cheap message board entertainment, ADAGE poured investment dollars into 3-4 small unsuspecting biotech’s in November. Look ‘um up and follow along as the rinse and repeat operation begins anew. The gentle breezes off Bora Bora are calling Phil’s name.
G.B.
