On Dec 13, 2010 traders got excited about Cardica and traded 813 K shares on a single day. The stock was up 14%. And that was without any news at all.
Just this year, on Jan 2, Cardica was up 35% on 330K shares.
Apparently Hillal forgot to look back at the trading history of Cardica and thought that he could suppress the price of Cardica by selling 500K shares.
Seriously, is this a joke thread? 500k shares is like CRDC's avg volume for a MONTH! LoL!!
And doesn't Applied Med have like another 2+million shares to dump whenever they want? In other words, the gig is up, these guys are toast. Think about it, even if Cardica gets past the FDA and starts selling in the U.S., won't this pretty much force these guys to dilute at a buck or much less? And if they can't get financing from insiders at such a depressed price, can Applied just force them to sell the farm for a song or else go bk?
Now one would think this wouldn't be possible if other big pharma (J&J, Covidien, etc) showed interest in buying Crdc and forced Applied to bid up, but obviously that's not happening, IMO. So, is other pharma just not interested? Or are they willing to sit back and watch from the sidelines as Cardica and Applied lock horns, only to pick up the pieces later? Whatever the case, IMO it looks like shareholders may get the short end of the stick here once again.
Just speculation on my part, but this looks like a very hostile take over attempt. Or make that, a hostile "take under".
If the CEO of Applied Medical, Mr. Hillal, has 2M shares of Cardica to sell, it'll make the market deeper and facilitate institutional buying. Its been mostly retail buying since Cardica is too small to attract institutions.
I hope you are correct. But his strategy so far has worked well to supress pps. He still retains a large block
of shares to continue on if he chooses to do so. He can put a great deal of pressure on CRDC plans in the comming qtr's with calculated share dumps and SEC filings with each positive press release CRDC puts out to the
public. I hope CRDC's board is working on counter strategies while Hausen executes developement of asap.
mojo there are many potential outcomes in the end and the one that manifests is probably not expected. As outsiders we have limted info.. Worst case would be ....we watch cardica swirl around the white bowl and disappear into the hole with nothing left but the linger of fermented stool and morning coffee brew
Do you still have your Booger Collection for the 4th grade. What a mish mash bunch of cotton candy historic information put together using way too much other use time to support a hypothesis that no one gives a Tasmanian turd about.
Sentiment: Strong Sell