Could be that the latest stock issue went down exactly as Fud describes. If so, how in the world could the INSM management be so blatantly foolish???
Because the SEC will never investigate the transaction. Right now nearly the entire SEC investigational team is involved with 10 Billion dollar SAC Capital,,, with a few hundred additional hedge funds in the wings. Big fish that apparently really used insider knowledge to their advantage. A petty 60 million dollar offering,, correctly applied for through the shelf, and done near market price won't cause a single SEC enforcer to even take a deep breadth!
I have been in several stocks that offered blatantly foolish management decisions and even more foolish CC chat. ETFC comes to mind. The shares sold short in that one was simply amazing and certainly what we felt was beyond anything reasonable. Delusion of shares to a hedge fund at a laughable price as well. In fact, those shares were many fold the size of this offering and the SEC didn't even bat an eye.
Fud,, what you say flows logically and may be 100% accurate. We will never know for sure, because the SEC is watching over a massive multi trillion dollar securities market, where they are finally finding some real dirt on the long time controversial hedge fund industry. Finding where leaks occurred that led to billions and billions in profits simply over powers any sell short and cover with an artificially low priced issue scheme! It would be like local law enforcement busting a kid for drinking a year underage, while taking their eye off of the city's big drug dealer. It very well may have been the wrong way for Insmed management to raise funds, but won't ever even generate any wrist slapping. I supposed that if I invested only with management teams I find faultless, I would have to question my holdings. I believe the liposomal delivery drug market will one day be worth billions, and completely negate any current finance snafus.
Bo...Yeah...you are starting to sound like a fud entity here...and this isn't the first time. Even more, the speed in which fuddy comes back with a stock answer that perfectly complements your post. Raises a lot of suspicions about this new thread and conversation. It's supposed to be 8:30 p.m. where fuddy claims to live and yet he carries on in all time zones without a care in the world.
Moreover, why now this epiphany of yours? The timing is suspicious since the fud entity is getting his/her xxx kicked for being a lying sack o' xxxx. Pretty convenient to have someone throw him a lifeline in his time of need.
Also, funny how after I posted last week about the high number of thumbs up and down on fuddy posts - they ceased within the day.
Fuddy - you leave a trail of stupid behind you where ever you go.