Riz...POZN ($10.20) price action disappointed a lot of people here today including myself. Vimovo got approved last week and that is what I wanted to see and was holding for. I expected a higher price than what we saw today clearly as I have been holding for over a month in anticipation of approval. With that being said, the price is what it is. You had an underperform rating from an analyst who upgraded their target from $5.00 to $10.00. That is crazy! The stock has been trading over $10.00 the last two weeks. One has to wonder what the motive was behind that while other analysts are calling for a higher price based on the approval and milestones to follow. POZN has no debt, significant partnerships, and two approved drugs in large markets.
The other factor last week was announcing approval on a Friday. Definitely stopped the momentum for this morning as the stock was halted last week and then reopened after the weekend. One other factor is the people who lost their shares last week during the bear raid. They probably did not want to get 10 feet within this stock today after last week so that potential new money that could have entered the stock dried up. My goal was to hold through approval of Vimovo. I saw it gap to $12 then left my computer only to come back and see it an hour later at $11.00. I said last night that it is hard to play Monday quarterback because everyone thinks they have the answers. Even though we were right on approval the stock did not act accordingly starting last Friday. People have to do what works for them and go with what they know and not others. No one is an expert here just traders who are trying our best to get these plays right based on clinical data and other information and make money in the process. The price action of the stock is out of our control with POZEN as evidenced last week where the big money took over. We are small fish in a big pond! I am looking forward to other plays we can find for this board as we move into ASCO next month. Best, $heff
Message in reply to:
POZN~ all those waiting, now negative here. i dont mind loosing money as long as i understand whats going on, can anyone of you biotech guru's explain whats happening here?
just your opinion of course, and should be better than mine as im new to the biotech world.
-riz
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