What was very odd yesterday was PDLI tumbling around 8% yesterday with no negative news that could have caused it. So why the tumble?
-It could be that insiders found out what this quarter's earnings was going to be and sold before the news came public/
-In the past hurricanes/weather that shut down the stock market for a day or so usually cause the market to go down 10%, however the market wasn't even close to that yesterday, but PDLI was.
-People want a reason to sell. Just because someone's opinion says that "PDLI looks ready to tumble" could have been enough for shaky emotional investors to sell.
Here are the facts:
-PDLI is doing its first dividend ever this quarter
-PDLI is the most profitable biotechnology company so far in percents
Earnings come out in the next 3 or 4 days with a dividend. So, I am not worried and pretty perplexed why this tumble happened. Better buy now when is cheap. Unless earnings come out less than expected this quarter. We'll see, but PDLI has a great past with earnings.
Obviously what happened yesterday was that the company got numerous calls from shareholders about the drop and the article about the bond conversion, and since the article was basically a trader's fabrication to help his short position and contained a number of errors and facts that just were not true, the company directed Seeking Alpha and its author to either retract the article or be subject to legal recriminations, thus the insertion basically negating the thesis of the article. However, the short term damage is done via an 8% drop yesterday which just gave long term holders like myself opportunity to add to my already large share position. Idiots like Beefstu are obviously short the stock and getting crammed today, you should probably cover soon, see you back above $8.
I think you mean creamed, not crammed. The only thing getting crammed is the one brain cell that is stuck between your ears. How you can figure a .15 gain offsets a .70 loss is pretty remarkable. Must be the new math they are teaching in elementary school. Do you like school?