just like they have screwed everything else up for the past 9 years.
Massive short position is the street saying they have no confidence in FOLD's part-time, massively overcompensated, "celebrity" CEO.
CEO replaced? Stock would jump 30+% overnight.
Nope....These guys had one chance last year to become a winning biotech and reward the shareholders. Then, they screwed up with the FDA and also decided to dilute the heck out of the shares and payout out massive comp. packages.
Result is a company that the street has lost all confidence and now has a massive short interest position that will crush the stock over and over again.
Part-time "celebrity" CEO is a huge fail and should be replaced but that won't happen because of his story.
Stock is doomed.
Ask yourself....With $165 million in cash &securities, why would FOLD be dumping shares now if they thought the share price would be much higher after an EU approval?
Yet, they are dumping shares now. Why?
They obviously have zero interest in shareholder value and must know that the share price is not going higher in the near future in part because of their ongoing actions.
CEO can't even muster the interest (despite his insulting $4.7 million comp. package) to present the company's story at the announced BoA conference. Part-time "celebrity" CEO has been a huge fail for shareholders and should be replaced but his "story" will prevent that from happening.
Short at will. FOLD in another MNKD.
Either way the stock is going down as the real business here is now selling shares so they can increase pay packages.
Sell now or wait until it craters under $5...Your choice.
FOLD's core business now is dumping shares. These guys will not stop until they hit their limit of 250 million shares out.
Any revenue they get will be more than offset with massive pay packages and huge dilution to pay off massive milestone liabilities.
Death spiral biotech...
They are diluting as you speak. They dumped 2.1 million shares in April alone that helped snuff out the post EU opinion rally.
25 MILLION shares short and not going away.
Stock is dead money as the share count will continue to skyrocket and easily offset any revenue.
Classic biotech stock sham that will make just a handful of folks very rich while the shareholders get fleeced over and over again.
Well...Took a little off the table from $27. Up 30% in 2 weeks has built in a good amount of any buyout premium.
The rest gets put away and waits...Good luck.