Since these SGYP fanatics first appeared here, crowing about their trial results, the XBI has fallen over 20%. And IRWD has dropped from 10.46 to 10 (about 5%) . While SGYP has nosedived from 9.60 to 5.40 (about 40%). Bleaker indeed.
Since we started this little debate, SGYP has lost almost 40% of its value; IRWD, the company which SGYP is destined to destroy, is down slightly less than 1%. You don't have to be a weatherman to know which way the wind blows. I rest my case. I will drop by when this hits 4. See you soon.
As a history student,I am always interested in those who say, "My grandfather lost all his money in the depression." My reading convinces me that most people who "lost all their money in the depression" never had much money in the first place. They rode the market up in the great boom and convinced themselves that they were both rich and smart, and then stood there and watched it all melt away. In effect, the market just took away the money it had given them. But they skulked around bitterly for decades thereafter, convinced that cruel fate had robbed them of their riches.
Pile in tomorrow. Double up. Break out the dry powder. Back to 10 in no time. But, yes, if this hits 5, I will drop by. I think I'm entitled.
Oh, Wow. You're saying that they were underwater 3 or 4 bucks. And having sat there like deer in the headlights, are now down 2 bucks. I lost about 35 bucks a share a couple of weeks ago on the TTPH collapse. It's part of the game. Big boys get over it.
Count on it. After tomorrow, I'm gone. This wlll undoubtedly cause the stock to rally strongly since my malign influence has been the only thing dragging it down. However, one caveat: When and if it falls to 5, or 4, or 3, I may stop by for a brief hello.
Pathetic. However, it seems to me that some of the wiser may have listened and taken some gains before their profits evaporated. For others, like the above, the catholic church used to have a category called "invincible ignorance" - those so sunk in darkness that they could not possibly have found salvation, and are therefore consigned to purgatory rather than hell. I will post one final message tomorrow, and then will leave you alone with your fruitless fantasies. (choruses of "Don't let the door hit you on the way out!" etc.).
Or as Johnny Cochran put it, "If it doesn't jump, you better dump."
Fatfingers. $160 m in cash and $160 m in debt. At this point, one wonders whether they can find someone to float a secondary. If the NDA is accepted and they can get a little rally, it will come quickly.
Yes, why would you buy a stock which is going up when you can buy a stock which is going down? Corey's enthusiasm seems to have done you little good. As for "plenty of cash", the company has about $1160 m in cash and $160m in debts, with the forecast of losing another $150 m by the end of 2016. At which point, they MIGHT have a product to bring to market, whereupon they can start to lose serious money.
Well, not being here at The Creation, I had assume that the rally was from a lower basis than 4.60. This suggests that the real bonanza to the steadfast longs here is 1.57.
Professional shorts duck in and out and usually have some kind of stop loss or hedge in place. Long term short positions require deep pockets and courage. Obviously overvalued stocks, such as TSLA or, in the past, AMZN, attract retail shorts. When the short position builds up, they are easily routed and fleeced by the big players. The fact that this doesn't happen here proves that the short position is in professional hands.
Incidentally, if I were short, why would I try to hide that fact? Shorts are an essential element of most markets since the dawn of trade. They sell when everyone else is buying and buy when everyone else is selling. (If you got caught as I did, in the recent collapse of TTPH, you could have recouped a small part of your losses by waiting for the inevitable short covering rally.) Professional shorts, who are active in this stock at the moment, don't want the stock to go straight down. Yes, if you shorted it at 9.60 and held it all the way down to here, you would have made 3.43 points. However, that would have been riskier and less profitable than letting it recover, and, when it ran out of steam, shorting it again, etc. etc.
Update: Since Aug. 3, the XBI is now down 14.6%. SGYP is down 31%. IRWD, the company which SGYP is destined to destroy, is up 2.5%.
Your argument seems to be "It's going up any day now." But it keeps going down. I am trying to provide a counterbalance to the mindless optimism here which is costing many of you serious money. The small retail investor doesn't make a killing too often. And when he does, he usually lets it slip away. When I was reviled on the ARNA board as "a lying short" and many more pungent epithets, one of the longs accused me of convincing him to sell out at 10. The stock had just moved a few cents above 10 on options action and never reached that level again.
If thinking about how much profit you've lost causes panic, maybe you've lost too much profit. Or as someone else once put it, "If you can keep your head when everyone else is losing theirs, maybe you're not paying attention." Having watched the ARNA fiasco with a lot of the same prevailing myths - "trapped short"," hedge funds desperate to get your shares", '"tutes piling in"," big buyout imminent", I didn't think this would fall apart so quickly. The difference was that there were a lot more of those people and many of them were using options. Every month, they would run it up towards expiration, whereupon it would fall back and the game would start over again. There is a notable lack of options action here. If the stock can hang around 6.85, for example, threatening to go to 7, you can usually find some people willing to gamble a quarter on that possibility. By the way, I have never tried to place a shot order for SGYP, and if I did, I suspect it wouldn't fill. The stock comes up on my screen as "hard to borrow", which usually means the MM's have soaked up all the borrowable shares. Incidentally, if you really believe that you can support the stock or that I can undermine it by posting on this board, you overestimate its importance. Note that I have never said, "Sell out your position," because I knew that the longs wouldn't do it. I've been counseling "Take some off the table." Unfortunately, most of their winnings have now been taken off for them.
Let me see if I can explain this to you once again. The short interest on any one stock is not a stagnant pool, but a lake which is constantly being both filled and drained. Because the lake level has not gone down does not mean that no water has entered or left. To assume otherwise is to assume that every long from before the rally is still here, holding his shares as they dropped from 9.60 to 6.60.