Well, two fundamental things changed: ENDP's disastrous earnings report hinted that all is not well in specialty pharma land. And Barron's came out with a hit piece.
Yeah, a channel that 20,000 people, mostly retail daytraders, watch is destroying a large-cap company.
There's been no fine assessed yet, and HLF hasn't paid a fine yet. We have no way of knowing what Valeant's new CEO is doing right now. We just know the disaster he left at Perrigo. We know that VRX is beyond saving because of its diminishing revenue and crushing debt load,
Their whole business plan is to buy companies at high multiples using debt, then jack up the price of the drugs to make money. But they LOST money in 2015. Given the regulatory climate, how can they ever expect to do better than 2015?
I think he'll last 2 months or until the pps goes below $15. whichever comes first. Advice to the company: spin off B&L, the only part worth saving, then declare bankruptcy.
Still has decreasing revenue, crushing debt load, multiple governmental investigations.
Why would any company rush to buy B&L now? It'll still be around in a few months when VRX files for bankruptcy, and interested parties can pick it up for pennies on the dollar.
Pre- earnings gyrations don't mean much. The real question is can the low of $23.55 hold tomorrow or is this going into the teens.