Dr. Frost bulks up with Muscle Pharm stock, Opko stock hits new high
Muscle Pharm investor Dr. Phillip Frost.
As shares of his Opko Health hit a new 52-week high on Monday, Miami Beach billionaire entrepreneur Dr. Phillip Frost flexed his financial muscle by investing $1.4 million in Muscle Pharm Corp.
The Denver-based nutritional supplement maker MSLP closed a $4.1 million offering of Series D Convertible Preferred stock, including the investment by The Frost Group. The stock was issued at $8 per share, compared to its current trading price of $4.70.
Looks like Frost now is hitting the weight room.
Meanwhile, the stock price of Miami-based pharmaceutical and biology company in which Frost is chairman and CEO, reached a 52-week high of $6.70 on Monday, after opening at $6.20. It closed at $6.60.
Frost could be said to purchase Opko stock more often than a bodybuilder does bicep curls.
He is scheduled to be a guest on Mad Money with Jim Cramer on CNBC Monday afternoon, so he might have something to say about Opko, MusclePharm or the companies he chairs: Ladenburg Thalmann Financial Services and Teva Pharmaceuticals
Also check out Pglc Pershing Gold Dr Frost bought 18 % in Aug 2012 at 32 cents and PPRTF Pasport Potash he bought 18% in Oct at 17 cents . Pglc has traded at 60 cents last week and PPRTF should run when they grt there assays out at the end of Feb 2013 . Good luck to all .