Anavex Life Sciences Corp (AVXL)

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Was There Any Due Diligence?

LPL Financial bought 453K shares of AVXL last qtr.

Balyasny Asset Management bought over 500K AVXL shares last qtr.

What could these hedge funds have been thinking? They take in, handle, and trade millions of dollars for their well-heeled clients. Why, ever, would they plunk down those dollars to take large AVXL positions? If these 953,000 AVXL shares were purchased at $8.00, $7,624,000 was spent.

You’d think that big-spending hedge funds such as these would do their due diligence before taking positions as questionable as AVXL. What, perchance, could have prompted these purchases? Clearly, they don’t read, know, or understand what we learn here from our doomsaying Anavex experts each day.