In addition to the other comments I've mentioned on SGEN, here's one more to STRONGLY consider.
The ASCO roster of upcoming presentations will support my thesis.
SGEN has it's followers, but, so do a miriad of other small cap bio's with "promiss". The hematologic "cancers" is but a VERY SMALL number of the total cancer incidence. Solid tumors are where the emphasis is. Please keep that in mind if you're thinking SGEN is going to the moon. The population set is those that have failed under current therapies. THEY will stay current if, for, no other reason than the finances are in place to KEEP them 1st line.
SGEN will hit 10 again but it won't be for a year, and, won't get much higher than that unless there's a solid tumor connection with one of their ADC's.
Have a great day.
Yes that's how it normally works, although I have been asked by a broker to lend out my shares for the purpose of covering short sales. I believe they offered 6%. I've seen it as high as 25%.
You are in the enviable position of never having made that poor of an investment. It has happened to me several times and they are invariably my worst...a testament to my investing prowess.
When one sell a stock short he must first borrow shares if available from his Broker Dealer , which means the Broker Dealer has to have stock held in street name in a margin account at his firm. The person who borrows the stock will pay margin interest to the broker dealer for any negative value between what he sold the stock for and what the current price of the stock is. If you have made a successful short sale you do not pay margin interest, also if the stock pays a divi you will have to pay that to your Broker Dealer. Baker Brothers is not not a Broker Dealer they do not keep shares in Street Name in a Margin Account with the size of their investments their stock is held in their various partnership accounts in their name in trust accounts. If they did as you seem to think held their stock in street name on margin in a brokerage account Broker Dealer would charge and retain any margin interest not Baker Bothers.
"SGEN will hit 10 again but IT WON'T BE FOR A YEAR, AND WON'T GET MUCH HIGHER THAN THAT......."
BRILLIANT STATEMENT RICKYBABY
SGEN OPENED TODAY AT $10.59.
You have the mouth of a juvenile amateur
Don't be too hard on this guy. You said about 2 or 3 years ago that IMGN would never pass Sgen in price again. It did for a day or two recently )-:
We all make some remarks that we wish we had held our tung.
I also possess the incite of a seasoned investor. Who cares where it opened. Where did it close Bozo!!
Give your feable cheerleading a break. Name calling doesn't change the numbers. SGEN is a tracking stock and will remain there until ....
BUZZ off loser.
So rick your prediction that we will not hit $10 for another year took about 2 wks to be dismissed. My prediction: SGN35 will be a blockbuster. Too bad you can't see that. Good luck to you anyway.
Don't forget SGEN is invlved with CRGN in another potential blockbuster. The market doesn't realize this as of yet, but this is huge. Check out this new article about CRGN The author writes it very clearly:
"CR-011 employs Seattle Genetics’ (SGEN) technology "
"CR-011 is one of the most advanced ADCs in the market, with clear activity in breast cancer, as well as in melanoma, thus representing a very large commercial opportunity."
The difference between a novice (or those with rosy blinders on) and myself is that I'm "real" with the situation. 10 means 10. Which means it surpasses 10 and coninues up. What you have today, and yesterday, and most likely tomorrow, is 10. If you got caught in an upper range of the channel at 10.30ish, don't say you weren't warned.