Wish I could agree with you here, Ajcee, but Marxe's track record speaks for itself: they are an "unloader" type of hedge fund. Pretty soon they'll be below the 10% owner mark, and then you won't know #^&%! what they'll be up to. Playing both sides of the market is my guess. I stand by my assessment from the day this deal with the devil was announced: ravi couldn't have done us retail guys a bigger disservice than bringing in a cockroach for a measly $8 million.
Brian, I can understand your skepticism toward Marxe and I too remain wary of him and his partner. As you stated, he plays both sides of the market, but indications thus far appear to be to sell his shares as quickly as he can and hold onto the plum of free warrants, while he makes a relatively small profit from his sells.
As I had mentioned in prior posts, he was instrumental in reducing the PPS of INO from over a dollar to below 0.50 as he sold millions of shares below his cost. Unquestionably, his motive was to gain free warrants as he is now doing with ECTY. His motive with INO remains a mystery and many assume he was looking for a tax loss.Certainly, if I was aware of his position with this stock, I never would have bought in and question my stupid move into ECTY with the intention of making a quick buck and moving back to INO after a week. The result is that I am now a bag holder and missed out on INO's recent gains.
The havoc he caused with INO for the most part was when he was an insider, thereafter he quickly lessened his holdings without causing further damage beyond the lingering effects of his insider action.