Agree, thats all they can do is try to destroy value. We should have 2 approvals next week and a little surprising that we are trading down today given going into those dates. Valeant needs a new second 9.9% stock holder so we have 2 of them. That will eliminate a lot of shares from the float and keep them in more stable hands.
Maybe Valueact added more?
Somebody bought Goldtard's shares!
A lot has to do with the 'nervous' traders/shareholders Valeant apparently still has. That nonsense doesn't work on most stable stocks. Pearson needed the cash like usual and Goldfarb is under new management and is cleaning up their portfolio and they have been selling since March so its not a surprise. Someone/s are buying those shares too but that never gets mentioned!
It would be nice if someone like Bill Miller or another large money guy got on TV and said something positive but in the end we need company news to really move the stock and that includes asset sales, drug approvals, cost reductions, and progress on Rx with Wallgreens and throughout.
Right now Andrew Left and thestreet are controlling the narrative. They took $1 billion away from shareholders today! Almost 15% drop from peak to bottom. Sell core assets if you have to to increase shareholder value. Right now shareholders are still greatly suffering at the hands of a few. Longs have a 10 to 1 advantage in that that is home many shares are betting for the company versus against.
Not sure why its taking so long for non core assets to be sold which is why I believe spinning them off as separate companies is the better option to raise cash. They should also consider any offers for the whole company and encourage them.
You mean the same guy that didn't sell any in the $200's?! The same guy who issued debt and not shares to buy assets? I think he needed the cash he had a large margin call in November where Goldman Sachs sold for him. Remember, insiders sell for many reasons and buy for only one.
Pearson is no longer an insider like he once was either. Today just shows we have still a ways to go before we get investors in here and not just traders. His same comments a week or so ago didn't move the needle on Telsa one bit!
Thanks to Andrew left I couldn't resist and bought at $22.07 and wrote the $22's that expire July 15. for $.80. Not worried about getting called out of them as have plenty of fully long shares.
Well we need some today! Its unbelievable how one man getting on CNBC or the street can cause a stock to lose so much based on a comment! It seems like VRX management is sitting on their hands we need some positive catalysts to prove these naysayers wrong. I think this Left fellow is allowing his short friends to cover prior to possible FDA approval. I don't like stocks trading on tabloid news. Healthy stocks shrug off such nose and barely move. We were headed to $25 this week prior this this hit piece!
On top of that if they get that Wallgreens going just to what Philidor was doing add another 2 billion in revenue to that! Even one of the three drugs getting approved is huge and good enough for me. Add a couple asset sales bring debt down by a few billion on top of the 1.7 billion they plan to on cash this stock will be north of $50 IMO.
They just don't learn! Like last year when oil hit the low to mid 50's a slew of rigs came back online and not long after oil hit the 20's! This year there doesn't seem to be quite as many coming on line but the past 5 weeks has seen a pretty decent gain in Rigs added drilling for oil. Granted, it takes time for the wells to be drilled from the time the rig is deployed but market futures price in the rig count to some degree and 25 net oil rigs added the past 5 weeks means something!
As far as the BK hearings there is a hearing next week and the judge is letting the Debtors and the second lien folks try to work things out with unsecured bond holders (not sure if they are meeting with equity yet). I spoke to Ken and he says that if another few week extension is granted that would be a positive sign that the talks are progressing and not stalling.
wallellaw, in one sense you are correct in that this rally is nothing compared to where we were and the drop. However, its a start in the right direction and on heavy volume so its still positive nonetheless. Lets face it it was a long past couple weeks here! I would look for another rally up toward the end of next week going into FDA meeting and decisions the following week.
larsondaviss, you are correct I am glad it wasn't a gap open either! Afterh ours traded heavy yesterday afternoon on the rise up so we more or less traded where we left off after hours yesterday. Hopefully a bunch of weak longs got flushed out the past 2 days that is looked at as healthy to resume climbing anyways.
stiffsam, I disagree about your prediction for tomorrow. If nothing else tomorrow will be more mundane than anything and may have a tighter trading range than today without any news. You are correct in that the earnings call will be HUGE and will move the stock big one way or another.
guardplay3, thank you!
As many here have said we needed to see a follow through day to confirm yesterdays rally. With Volume well over 40+ million and an up day today following yesterday that is VERY bullish. IMO That $25 price target people are talking about could be in play next week with the monthly options expiration but if nothing else we should be trading in the high $22's to low $24's until news or we get closer to PFUDA dates. IMO
Yes I agree. I think $24 will be tested several times today and tomorrow. Would be nice if company had some good news to release today to add fuel to the fire. Some still want to make sure trend is going up so buying begets more buying! Today's move into the $22's was expected as I said yesterday. Its healthy and much better to grind up versus go up in a straight line. Gains are much more likely to hold with gains over time than gains in one lump.
I gave up shorting a while back too it was too nerve wracking! Limited upside and unlimited downside is just too risky for me as well. I agree if I were to short stocks it would be Telsa and FB but I would of also shorted AAPL too and probably gotten burned!
I was in Gold miners for 3 years and rode them down to the bottom and up to about close to break even and had enough and got rid of them earlier this year and now could of make 2.5 times my money had I stayed in them! Oh well, it was too nerve wracking like being short as they only seem to go one direction and not much logic to commodities. I am in oil via buying debt now but got burnt the past several years but better now.
Are you in commodities?
As of today the healthcare sector is lagging the general market so a healthcare sector that becomes in favor again will be a nice tail wind for Valeant stock. The healhcare sector was a leader in the market today in part because of VRX. VRX is in a lot of index funds and now that the new quarter started and people are back from vacation this could be a good quarter for our sector.
That makes two of us! ; ) Today is no cause for celebration but rather relief. Stiefel also reiterated their $55 price target today too.
Yes, Telsa has got his focus and that is a good thing for Valeant. There are so many stocks in the market one can short but Valeant at these levels is just foolish! Maybe he will focus on HLF too to help Ackman out of that one! ; )
Correct thinking regarding tomorrow as one day does not a trend make! Tomorrow will be a key day. I want to see strong volume (well over 30 million if not 40 million) and even close a little higher. There may be a 'head fake' in the AM if it dips below $23 by a good amount but I can see a whipsaw action which will help confirm buyers are getting in on any dips. I have not been following the options this week so that could be telling as well.
I believe its because we are getting closer to the PFUDA dates on the 19th and 21st and quarterly earnings call. Also, we are in a new quarter so the selling the past 2 weeks was exaggerated to the downside due to window dressing IMO. Also, yes the fact that Wallgreens deal appears to be headed in the right direction finally, helps too. I believe the rally can not only hold but has more room to run going into FDA decisions. Throw in an asset sale or two to pay down debt and that will add more upside.
We do need a follow through day (up) tomorrow with strong volume to help confirm momentum has finally changed.
Not sure what the resistance looks like before that but if we are able to fill that and if it holds we will likely retest $38.50 IMO. Since most peoples cost basis in closer to $30 a share I don't see much of an issue filling that large gap in early June.
Great call! I would of hoped to close over $22 and we get over $23! Nice volume to 46 million plus. Up in AH as well. Momentum traders will be riding this one and the ones who went long under $22 made a great call.
Getting an asset sale announcement will get her well over $24 tomorrow or Friday. Possibly even without any more news it will run there.
I am bumping this post up in honor of all the shorts and naysayers that bumped old posts of longs here that were proven short term wrong and trying to embarrass them.