The average price for a long before the recent run up in price is $53.75.
The market is currently up roughly 20% for the year.
20% to $53.75 is $64.50.
Let me put it together differently...
You are an institutional money manager and your job is to... and to retain your job that feeds your kids, pays your mortgage etc... - is to match or beat the broad market.
As baskets of capital are reallocated towards year end, where does Vertex stand? Right now we are up on an average basis.
Where does Vertex stand with institutional money if the price falls below $64.50?
So if you didn't heed my warnings a week ago... pay no attention to this one.
On a risk adjusted basis, Vertex is currently worth 10 billion in my opinion. Potentially worth more but I am discounting that due to the inept business management presently being hacked out by a bunch of lab researchers.
This is a precipice... and when big money starts to lose, they will get out quickly to limit their losses. I am guessing a $10 drop.
Been wrong before... wasn't wrong last week.
So I will say it again... This is going to fall to the $40 to $50 range. Take your profits before Wall Street does.