This morning before the market opened, I was thinking that AMRN might go down today and tomorrow simply as a result of tax-loss selling. But then it occurred to me... why would anyone hold through all the bad news just to sell now for tax purposes. I figured, those of us true longs with faith the in the long-term potential of the company won't sell, and those that would sell for tax loss purposes probably sold when the results of the ADCOM meeting came out. In other words, I think AMRN has bottomed out. Those who are here are here for the long run or are gambling on a surprise positive decision for ANCHOR from the FDA and hope to hit a big score.
If you sell a stock for tax loss, to keep the benefit, you cannot buy it back for 30 days. With the anticipated news in a few weeks, you'd be a fool to sell at these levels no matter how small the chances the FDA will make a 180 turn.
Thank you. I was not aware of those rules... I am a small investor, and everything I have is in a Roth IRA, so I know there are a lot of different tax rules with that (basically, I can't write off any losses, but I don't pay any taxes on any gains, as long as I do not withdraw the money until I am eligible).
yeah yeah many of us were holding for the 12-20 pdufa and then we would sell to offset cap. gains ... i sold other stocks booking l.t. gains to hold on to my amrn shares on margin .... adcom blind sided me lesson learned that effective placebo-safe drugs don't always get panel approval :) so i will have to wait the 30 days and hope i don't miss out but there are scenarios were investors like me have to sell to avoid big tax hits
tax-loss selling already occurred with 3 days to settle by EOY, now there's anticipation of possible good news, and short covering -- the trend was well up today and ended going higher into tomorrow. Will go
above $2.00 very early on.