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CAMBRIDGE HEART INC Message Board

  • kamaaina42 kamaaina42 Apr 2, 2013 10:00 PM Flag

    I sold my entire position today

    Well, ladies and gentlemen, I decided to take my excruciating losses on the chin, and I cashed out of my 364,000 shares. Got an average price of about .02 (compared to my average buy in price of .29 or so). Yup, about a 100k loss. Poof.

    Anyway, here's my .02:

    To all the oldtimers like RT, rocken, hotstock, scriab, ybirdsonfire (has he even posted recently?), and even the ever optimistic (and frequently, I'd argue, deluded) FortuneKing, it's been a heck of a ride these past 6 years. I have lots of regrets with this stock (like not taking profits off the table when it went to .72 after getting FDA approval for the OEM module), but I enjoyed the banter here as well as the mutual wishful thinking. Same goes for all the other people on the board whose handles escape me now.

    It's clear to me that the company is going bankrupt and is going through the motions of SEC filings so they at least don't get fined/jailed/slapped on the wrist. I think they should have released an apologetic press release, but perhaps lawyers tell/told them not to -- but sure would have been nice to have gotten something to mark the end rather than hiding behind filings. So much for the "strategic alternatives" or whatever euphemism they used to keep hope alive a couple quarters ago when they intimated they were trying to sell the company or at least get a fresh infusion of capital.

    I'll probably check this board a few more times this week but then I plan to remove it from my bookmarks and attempt to never look up the CAMH symbol again -- don't want to jump off a building if the company suddenly gets bought for more than .02 a share! I just couldn't take losing everything. Now, I at least have losses to mark against my AAPL cap gains and about $6k to put towards next years HSA contributions and anticipated health insurance deductible! So fun...

    Good luck to every single one of you re: your investing, your work and personal lives, and most importantly your health!

    --kamaaina42

    Sentiment: Strong Sell

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