For a company to dive so quickly and so deep in couple of days is unreal. There must be something wrong with the balance sheet. I have been in the financial world over thirty years and I can tell when something starts to stink.
Ever heard of ENRON. It too had fantastic financials, it too had CEO who promised value? Ever heard about what happened to its investors? If this company is as good as it says it is ... it need to PERFORM! Show the investors results not bloody declines.
http://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=SPPI&pageno=&storyid=201108040700BIZWIRE_USPR_____BW5780&provider=BIZWIRE_&product=USPR____& I don't know if anyone has seen this yet.GLTA
Yes ... we all heard of fantastic performaces by this company and from it's CEO. Then why in the hcek the stock doesn't reflect it. It's time to question the PR coming out of this company.
>>>For a company to dive so quickly and so deep in couple of days is unreal. There must be something wrong with the balance sheet. I have been in the financial world over thirty years and I can tell when something starts to stink.<<<
Why? The EXACT same kind of occurance happened right after their LAST earnings/cc! However, this particular exact deja vu-like sell off is even MORE senseless then the LAST one, as they delivered another quarter of sequential record profits & apparently show no signs of the their revenues pace easing anytime soon.
This time, the reason MUST a combination of the horrid market climate with the added weight of a mass heavy sell off in biotechs in general.
Just look at another small oncology play, KERX, this week. KERX stock price looks like it fell off a cliff, especially this week & the severe plunge has occurred on no news of significance....Hard to say whether or not the DNDN debacle caused a takedown of the biotech sector, but I'm quite sure that it didn't help the situation...
This biotech bounced back ferociously after the last quarterly sell off...Unless the whole market goes to hell in a handbasket, I don't see why it won't quickly recover again & garner new all times highs going into Q3., especially with their big late stage drug trials drawing closer to their final end points. At least, that seems to be the present pattern seen this whole year....
One other thing that hasn't changed yet is the long-term trend of higher lows still seen after each of these significant pull backs....
In today's market , HFs in the Cayman's connected to computers operating up in a cyber cosmos , programmed by MIT math grads working with panels of statisticans , are running the whole sorry show.
Add this fact to decisions made when Revalin was approved back in 2009, and instantly followed by a spike to 10+, then followed by 6.5 million shares hitting the Bid at same instant the Renshaw private placement was announced convertible at 7.5, and you get a glimpse of the merry market world of Spectrum Inc.
The things one needs here are found at a Formula One Racing gear shop; asbestos gloves, jumpsuit, and crash proof goggles.
As the old Truman era political statement goes; "if you can't stand the heat, get out of the kitchen"
Some bright morning , you'll plug in your very own PC Goggle machine and voila, the pre-market news will announce that Spectrum Pharma is "in play".
When you gulp down another swig from your coffee mug, and peer into the screen, you'll see that some outfit has lobbed in an opening takeover bid for the whole SPPI drugstore out in Irvine...
You'll call work, plea to the boss that your dog just threw up his bean soup, and you've got to take him to the vet and you'll be late....
The cynical staff director will hang up and remark to his secretary that he never knew you had a dog, he'll be 100% right, but you won't give a hoot. Just, let the games begin!!
Last night, at 9:30pm EST, Standard and Poor's downgraded Uncle Sam's cookie jar. 12,00 miles away, the honchos in China gathered around the potbelly stove, and got out their joss sticks....the boyz out there just looked at each other and realized that the big stack of 1.1 trillion IOUs sitting over on the big round table just evaporated another 2 inches
....,...." no so good , Mr Uncle play us for big Chinese fools...we give Sam 300 million flatscreens, they give us this shrinking stack of green promises....what we do now Mr. Ming???"
There IS something wrong with this stock. These fake analyzers and projections and excuses should become obvious, if you read the message boards just one time completely.One of the pumpers was talking about the "super earnings". I had to answer that 0.25 projected was not "tons of money" and
the company actually earned 0.12. Other pumpers continuously
refer to "a buy out" in 2-3 YEARS?? Who would want to buy a
drug co. with 2 drugs?? Good luck.