Icahn could have bought all he wanted at 9/sh not that long ago if he was interested in averaging down.....what's so attractive to him at 15.60 ? Remember that the guy who worked for him and put him into AMLN split off and is no longer around. Carl is probably scratching his head on this one as he's underwater on his $22/stock position and can't change this work in progress by yelling at management. He's smart enough to know that AMLN needs to put healthy monthly numbers foe awhile before he can see light at the end of tunnel in the form of a larger company willing to take the risk and spend the money to buy this sad story.
The reason why Icahn may find buying Amylin stock today at $15.62 more attractive is because of what happened on 1/27/12, Bydureon was FDA approved. Prior to that, there was a risk for Icahn to buy more shares of Amylin given the fact nobody knew for sure what the FDA was going to do. If the FDA had turned around and issued a 3rd CRL notice on 1/27/12, Icahn ownership in Amylin would most likely have ended up being a permanent loss. However now that Bydureon is finally approved, which is one of Icahn's main reasons and goals for for initially investing in Amylin in 2009, buying more shares at $15.62 is a much safer bet for him today espeically if he is looking to sell the company wll above $30.
oh I'm sorry---THAT's why the stock is a rocket must-own #1 conviction stock. I must have missed that report---thanks for the update. Also, keep me posted as to when Icahn "sells the company". I thought that you had to own a company to sell it, not just own shares down 30%.
I think you must be slightly confused on the current picture at AMLN than what the POTENTIAL looked like years ago. The story today hardly resembles the sizzle of its previous life where it had big brother LLY ready to peddle potential $$billions of high margin product. What part of the current AMLN story resembles their sexy past ?? I can appreciate looking for lightning to strike again but that's not the best way to play biotech---that's at least is close to fact.