Amarin Corp Plc (AMRN)

[mrmainstreet]

I had my first sleepless night since before REDUCE-IT results. Tossed and turned thinking of my idiocy believing the company had been de-risked, my missed opportunity to sell at $20 a share, how unjust the rulings were from the courts when it comes to protecting innovation.

I couldn't fall asleep as I realized Thero and his team have lost the US market, the crown jewel, and their response was a flaccid PR about en banc which has no chance.

My restless night continued as I realized the Baker brothers will drive us down as they sell their shares, and after 8 years I'm only up 40% on this stock even with a life-changing drug.

That being said, even a moron like myself knows the company is worth more than $4 a share, so I will look at taking advantage of this initial savage drop to increase my position in the hopes of seeing $10-12.

My thinking is the company will either settle, fight for the US with their own generic, or sell the business, all while expanding in Europe/ROW. Perhaps I am wrong (I have been so often), but that is what I am going with. All the while I will sell covered calls and try to rake in some premiums as I wait for Godot.