I'll survive...looking at an over 200k loss on my stupid bio I've been in for years...failed the phase 3 trail haven't heard by how much but stock drop over 80& in premarket so far...I'm holding 40500 shares with cost average 3.35 not good not gonna completely retire any thing soon now...
got an idea. everyone get a few thousand bucks together and buy clns. drive the price up, just like the MMs do. It does work, as we have seen with every stock we talk about on this MB.. just bought some.
My sympathy. I lost about the same amount last year in a bio stock that already had a drug approved! It did not produce the revenue that management and the crooked group like Jefferies analysts were suggesting. You can't trust management no matter what.
Sorry for your loss. Speaking from a purely empathetic perspective (been there, done that, albeit on a much smaller scale), weren't we warned that biotech is treacherous territory? The ratio of failures to successes stacks the odds against us. Mentioning for the benefit of those who have not yet ventured into the Twilight Zone but may be tempted, conventional wisdom is to profit from the run-up but not to hold a biotech into a binary event (see zzlangerhans' "Ugly lessons in biotech: Avoid binary events.") You can make money in biotech using AH's strategy incorporating discipline and acorn harvesting, but don't swing for the fences!
B4... sorry to hear about this. That is a big number to loose. Like AH said, stick with boring energy stocks and stocks you know a lot about. Let's work on getting some of that money back.
Wow...... Sorry bro ...... Lick your wound, learn from this setback,
Look forward, and move on.
Get back to making money the acorn way. Those moon shot stocks are not what retirements are built on ......