Fortune favours the brave - but rarely the gullible
Continually averaging down in a biotech is the right strategy - if you've found the right biotech.
From the Genta board a few years ago -
"Time to buy?
Good to average down, especially at these prices,but I suspect lower.
I bought last @7.19, hoping for a trade and a rally,GNTA really never saw it.
Is our bear market rally over? Friday suggested it might be, if volume confirms this week, then have cash to buy this gem.
Still a news driven biotech, there is always chance of a quick bubble to make money also but I stand by my... buy it, tuck it away, don't look!,come back in 2 years
Good Luck to all Longs"
"The stratagy works because it is after the fear,the shorts and the ride on the biotech rollercoaster.(NDA,FDA etc)
Analysts ability to "move" a stock will be overtaken by what will be the marketplace in 2 years.(look at post 70's bear market for historical perspective) A marketplace of valuations and earnings.
GNTA IMHO will have them....soooooooooo But it tuck it away dont'LOOK !come back in 2 years
Good Luck to all LOngs"
Genta gained 50% on Friday - from $0.0002 to $0.0003. Let's hope Terry took full advantage of his latest opportunity to average down, by snapping up an extra million shares for $200.
When a leading contender for the title of Worst Investor in Biotech offers the following warning about INSM -