Yeah, Google: "Help! My short position got crushed, and now I owe E-Trade $106,445.56".
He shorted KBIO at $2 after the Co. announced it was going to liquidate assets & wind down operations. Then an investor came in & bought more than 50% of the outstanding shares. The guy who went short now has to liquidate his and his wife's 401K to pay ETrade.
Check out KBIO & the dude who was short at $2 now owes over $100K
I would think if management was lying, Einhorn & Loeb would've seen it a while ago, and sold more than 25-30% of their holdings.
Share price is now unable to sustain an erection!
If the Fed wants a green day, the NY Fed crushes the VIX into the close. It's funny that they admit doing it.
Best thing to do in that situation is to try and balance the "long term loss" with an equal or greater "long term gain".
Straight line increase from 12 to 4 on S&P, Dow, & Nasdaq means HFT only buyers.
rezoom2 - Have you done any research on the past employment history of Erck and members of the NVAX BOD? I seem to recall he positioned a previous Biotech for buyout, as did other members of the BOD/Executive team. One has to wonder how long Mr. Erck will want to continue involvement in the Biotech industry at his current age.
Tenthoff?...Never heard of him. Has he ever been on CNBC or Bloomberg?
Bill & Melinda Gates...Yeah, they're successful and known to just about every human on Earth.