My opinion of TheStreet.com has changed significantly ever since the one sided, agenda pushed articles started appearing and being published regarding Peregrine Pharmaceuticals.
Peregrine is clearly a stock at the starting gate and one to watch very closely... though one must see through the "noise". There are many on the IHUB board (too many names to list and I don't want to leave anyone out!) that break down the overall game plan of Peregrine in a way that makes it easier for the rest of us to see the finish line, even though Peregrine gets held back at times by some spectators with a much different agenda.
TheStreet.com has their latest article out talking about the ATM and dilution of Peregrine? Is this the way they want to help their investors grow their wealth?
----------------------------
First... this is from TheStreet.com's "about" re: their mission
"Our mission is to provide the most actionable ideas from the world of investing, finance and business in order to break down information barriers, level the playing field and help all individuals and organizations grow their wealth."
----------------------------
Now ... TheStreet.com quotes this from their latest article:
"The most egregious example I've come across recently was Peregrine, which diluted shareholders by 41% in the most recent fiscal year. A large majority of the 31 million (!!) shares sold by Peregrine were through an opaque ATM facility. Shareholders had no idea Peregrine was selling all this stock unless they read through SEC filings -- something every investor should do but few get around to."
.... Lets analyze:
1) "Egregious" defined: Extraordinary in some bad way.
The more astute example of the use of egrogious is the article itself that TheStreet.com just published for their investors to read! Peregrine and many other small biotechs use of an ATM is needed and required to design trials that will be overwhelmingly convincing to the FDA for approvals once the data is in hand. Further, 104 Million shares is small compared to the many other successful bio tech stocks... but does TheStreet.com analyze and factor that into their publication? No
2) TheStreet.com mission statement:
"to break down information barriers" is purely what they should be attempting to provide to their readers and investors. This is clearly seen starting the latest release of Peregrine's PH IIb NSCLC Median Overall Survival data and more importantly by their latest conference call which clearly gave for the first time the most detailed pathway for success. Why does TheStreet.com ignore and gives no mention to the many details from this conference call? A replay of the conference is what they should have advised all their readers to go do since this did "break down information barriers" ! Instead... TheStreet.com allows articles to be published to further "conceal" information barriers, as if they are on stage doing a magic show where its all about "illusions" and say something over here or put a hand up over there while all along something is happening elsewhere that they want to conceal. This way... once their magic show is done and its too late for their investors to see the truth and a glimpse into the future of Peregrine... it just may be the admission price doubles for their investors to see the real magic of Peregrine as TheStreet.com moves along to "conceal" another company's future instead of "breaking down information barriers" from the start.
------------------------------
Good luck to all ! Sept. 7 awaits....
AI
