Amarin Corp Plc (AMRN)

[oneragman]

FFS, the only way he lowered his basis was sell a portion of shares with a $4+ average while buying shares with a 1+ average. His new shares lower his overall basis, but he would have booked a loss on those shares sold, so in effect, losing money. Hardly playing retail. He didn't sell at $4+ and buyback at $1+, so he harvested a tax loss, that's it...good for him. I have done the same thing. If somehow he was shorting shares, he could/would have made money on the short, but his basis on the 25M shares would not have changed. No way the IRS let's you short shares and use those gains to lower your basis on your held shares. That's not how the tax code works and I have been in situations that are pretty close. The IRS has all the angles figured out and makes sure the taxes get paid. I have paid CPA's plenty to figure out every possible angle and what you portend happened isn't legally possible or I would have done it.