Hey ya'll....just heard from a good source that a Large Bio hedge fund went out of business and they are liquidating their assets.
$TSRX is on the list along with the following other stocks.
$PCYC, $CLDX, $NPSP, $HALO etc.
Crazy....Big Ben speaks today. So no trading until it's over.
On Bloomberg news yesterday and today: Ayer Capital Health-Care Hedge Fund Said to Be Shuttering
It says the $200M fund is returning assets to investors and will shut down. But where do you see they own TSRX these days?
I thought I missed some good news ...vol was up to 1mil. Are you sure it wasn't one of those Mexi-con pinata landscape companies that sheared Mrs Alfalski's Golden Sack's hedge fund? Heard the foreman had too much tequila during lunch break & got spooked by Ben... wish I had sold all mine the other day. Go away in May started a tad early. No more stimulus from Ben. There goes the market.
Hedge funds write calls, puts etc.
Most of the successful biotech hedge funds were writing calls because most biotechs are just big giant flops. Well, this year the biotech industry has been hot! So what do you think happens to a hedge fund that wrote a ton of calls that finally get exercised? BROKE
And they go out of business......