that's why SPPI is tanking today and tomorrow
investors are feared of
- no deal w Allos
- bear raid after earnings as we seen Mar 1, 2012 as shorts were selling the news
absolutely no reason to buy or hold these days
i will be fishing next week
Tartia, good luck with that new $189.56 position! In all seriousness......This biotech has a PE that has now fallen into the single digits. I can't find any consistently profitable small-cap biotech that trades even close to the single digits....That usually doesn't last too long and signals the bottom, oversold range, even with this chronically low PE stock....If they should manage to hit the cents-per-share #'s consensus estimates, after earnings, the stock should go back to trading to it's mean, at least an 11 X PE, which should move it up to new highs(@$18.5). However, if it does what it did in JULY, that is, move up to a @12.5 PE, the stock goes to $21....Whether it's lightning quick or gently slopes in an upwards trajectory quietly over time, if the numbers are made, this appears the most likely pattern, IMO.....
I just hope the ones who sold today can't get back in cheaper.....but then we know it's nothing more than Ting and Tang playing games, so doesn't matter anyway!
PURELY MANIPULATION and I'm happy to still be hanging onto ALL my shares!!