Arena Pharmaceuticals, Inc. (ARNA)

[CrazyCoop]

I liked ARNA. I really did. I liked ARNA as a buyout target... but there's no way that is gonna happen in this covid environment.

So then I liked ARNA a little less, given the overall state of the economy.

And then it occurred to me that (even though Amit hasn't admitted it yet) - covid is gonna push out our PH III E results so far he's gonna have to do another dilution. Just my opinion-- but it was not even a remote possibility when i really liked this company.

And then... outta nowhere ... Amit wants to double the outstanding share count? WTF is that all about?

I'm out. Not gonna look back. Maybe ARNA will play out OK, but at this point there are much lower-risk plays. And it's obvious Amit is all about making sure his corp staff gets rich (on the stock holders' backs). Nuh uh. Seen that enough. Good luck y'all.... this one is goin to the crapper if his plan to double the share count succeeds.!!

cheers

coop