Many investors are running for cover with the market tumbling around us.
Some might say I'm a contrarian but I certainly don't see or glamorize myself that way.
I'm not the boldest investor nor the richest by any measure.
So what gives?
Simple---I smell handsome gains later this year.
Granted, I can wait as I'm not under financial pressure. Too, I'm not using margin; instead, I'm financing all my trades myself.
I'm not buying any other stock, only Menlo is on my radar. I view it as the fire-sale bargain of the day.
If I'm right, shares will soar later in the year. Covid-19 figures into things for sure and I'm not any more well informed medically than others here on the board, I'm betting. So maybe MNLO will need a few more months to realize fairly unanimous projections? I'm OK with that as I'm not going anywhere.
Whereas I'd projected that shares would be around $11 at year end, I'll be happy even if our top is a mere $4. This would be ridiculously cheap for a stock going commercial just this year! On top of this, we now have two drugs with one already blowing earlier sales projections out of the water and drug #2 received FDA approval before the earlier-established review date. And then there's drug applicant #3 in the pipeline with excitement building already although not yet in stage 3 of the ongoing clinical.
So I'm putting a lot of eggs into this play in the belief that by year end the worst of the pandemic will have concluded. There may be a vaccine by then. Either way, it is my expectation that your everyday American will have accepted that we've got an elephant in the room and we damned well better accept it as part of our new reality.
So then---here's my situation at the moment:
I topped off the tank today with a thousand shares at $1.98 and now hold 190,000 shares with a cost basis of $182.6.
I'm very happy that I've got this position. I'll be happier when I see things straightening out politically, medically, economically and in other ways, as well. Until then, the wife and I are laying low, blessed that we are old yet in perfect health.
Life doesn't get better than this and we are as happy as could be.
I do hope folks here will reach out and ask for helpful suggestions and whatever concerns you. This is the time to reach out.
And this is the place to do it!
Good fortune to all!
