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Spectrum Pharmaceuticals, Inc. Message Board

  • hopefullyolderwiser hopefullyolderwiser Mar 14, 2013 10:14 AM Flag

    Isn't a CEO on the short side pretty much the opposite of having a fiduciary duty for share holders?

    What would that argument be?

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    • Not necessarily. You have to look at all his circumstances. I once was awarded an option to buy 30,000 of my company's shares at $6. When the share went to $13 a couple of years later, I didn't want to wait another 3 years till the deadline for exercising, so I sold ahead of time by shorting. Interestingly, even if you are an insider, I don't think you had to report a short position, so you would never know if a CEO was short.

      Another circumstance where shorting means the opposite of what you might think is if you had sold puts, which is a long bet. Then if the stock goes up you cover the puts by shorting the stock, which takes you neutral.

      • 2 Replies to cloggervic
      • His last annual showed he was 5'-6'. Injuns are generally on the short side of the human spectrum. But you can hardly say that he was exceptionally short.!

      • You are a chump.
        Officers of a Co. are restricted from selling short. You should know that, or you are a dumb moron or expect the longs to be the same. Looking at the option trades it does not look like any of the insiders have sold any covered calls in large quantities either - so shut the #$%$ up or do your research before you write garbage.
        At this price, I will have to say SPPI is actually a strong buy. SPPI blind sided the longs like me with their stupid guidance just a few days ago, but given where it is trading it is a BUY now.
        #$%$ Shorts, take it where you please, I will be buying more.
        Folotyn is worth $2, Belinostat is worth $4 (should it get approved pre approval it is worth $3), Zevalin and Fusileve are worth $2. Rest of the pipeline and cash is worth $4. Anyway you look at it the Co. is worth more than where it is trading. Should Belinostat get positive results in other indications it will be worth more. Ligand drug is worth $2 and so is Apaziquone. Should it Apa. get approved it will be worth $6-8.
        Enjoy the wild ride but dont get cocky, this will get acquired should it continue to trade lower. I just hope Raj and Co. are not hoping to steal the longs with a LBO. Risk of an LBO is a lot higher now and it will not be good for the shareholders.

        Sentiment: Strong Buy

 
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