What could that mean? Possible reasons:
1) Retail selling is over.
2) Free float has shrunk further due to more strong hands buying and holding.
3) Momentum traders are entering for a technical trade.
4) Long term down cycle is complete and long term up cycle has started.
I don't think it is news driven by the people "in the know". At least, not yet. Hopefully, I am done putting more new money in here (9K at 0.96 was the last and only instance) and just hold what I have till my targets are reached over the next couple of years. A buyout is welcome of course, but I am not holding my breath for it. We will get far less than what we are worth in any scenario. In the mean time, I agree with Mike that there is nothing to get excited while trading below cash levels.
mike, not to bring up a controversial post from the past, but what did really happen to your friends? Why did they decide against VVUS? Or have they? If they have $25-50MM to play with, they can make an absolute killing on VVUS. The free float is only about 4MM shares by my calculation. If they swoop that up for $6-8MM, they can use the rest of the money to squeeze the shorts to pay up double digits. The shorts won't have any choice but to cover. Are they waiting for a catalyst to avoid Seth saying "Don't look at me" for the stock price increase? That would make sense but we have not heard anything from you about this "rumor" since then...
Revenue was $3.25MM and income was $253,000. But this must be with the fishy business (Mekonza) which is not there anymore and whatever little MJ they were selling that is also not there anymore. The Vietnamese CEO ran away and the balance sheet is all hosed up now. How much cash do they have (had only $38K in March) and how can they start this MJ business that they are touting without any money? Is JP financing this? Who knows? I am tempted to put $750 to bring by cost basis down by 50% but why bother if this ain't going anywhere?
Stop it guys. Look over there - VVUS is actually rising! We are witnessing a rare and beautiful event. Enjoy it and leave your disagreements aside for a bit...
Anybody think Zacks is a little overzealous in their pumping of VVUS lately? I suspect that they got some premier clients into VVUS. They were doing similar bullish reports on CTSO before it ran up 300%. Not that they are influential on Wall St but this overt pumping seems quite unusual. By the way, they don't say anything that we don't already know. Might as well call it the "duh" report. And with a title like that, they only give VVUS a "buy" rating, instead of "strong buy"? Schizos....
Where is the money to get into the Cannabis business again?
No reverse split is nice in principle and shows that they don't want to kill the existing shareholders completely. But back to the original question.
JP said they will have a proposal in a few weeks, back in mid July. You think that could be a catalyst, if they follow thru that is, as there were over 1B shares traded that day.
I am thinking of getting another 7.5MM shares to drop my cost basis by half. But that is more money (even if only peanuts, relatively speaking) wasted if this is a confirmed dud, even with new management.
Thanks for shedding any light on this.
Some here ask why would someone pay $6 for a $1 stock? In isolation, that is a sanguine question. The real answer is that $6 would still be a steal. The stock has been detached from reality for quite a while actually. At the minimum, it should be trading at cash at hand and falling or rising with that amount. That is $2.70/share. If you look at the fundamental value, the price should be closer to $7/share. How do I arrive at that number? $350MM in guaranteed milestone payments + $50MM in net cash + $100MM for Qsymia IP (conservative) + $100MM for Avanafil IP (conservative) + $100MM for current revenue (PS = 1) = $700MM or about $7/share. That puts it in line with ARNA, which has 2016 projected revenue of less than half of VVUS. So, as you can see, $6 is not a stretch by any means and is actually a steal. Then why $1? I think the "plan" is to make that offer sound great and garner quick shareholder approval from the institutions and shareholders that will lose 50% in the process. Won't you vote for an offer that is a 500% premium and call yourself lucky? I think this "illogical drop" is so that it can be sold for a song and made to sound like a world beating offer at the same time IMO...
Let me clarify - I meant the new LATF. I know the Vietcong (old management) abandoned the company and ran with the money. I don't see any financial benefit for JP to promise no RS (which is the traditional vehicle for pinksheet scams) and try to right the ship with Latteno Sciences.
tguns, I guess my question is more along the lines of whether LATF is a scam. I can halve my cost basis by throwing another $750 into it (what a shame) but if it's a scam, that is more money wasted. Is there a pulse here?
That my friend, has a 100.00% probability - ending up dead that is. But I won't let that get me down. There is a lot more to life than checking the VVUS ticker. Let's go smell some roses tomorrow! I know - see what Seth has reduced me to....
Odds as per my handy, dandy, rusty, dusty Texas Instruments calculator is 17.34783502 %. Don't ask me why. That's just what it spat out. I think it got skewed lower because of your 1 year target. But decent odds if you ask me...
Never seen that before. I thought 0.0001 was the lowest it can go - silly me. I will kiss my 7.5MM shares goodbye as I need a 20 bagger to just break even. Can't believe we have come full circle from here to a 125 bagger (1.25 pennies) to back here. Anybody think another run could happen for MJ stocks? This one, unfortunately looks like fishy business (pun intended)...
Over the last 3 days, I 'made' $20K doing nothing on VVUS. But let's stop with that statement - LOL! BTW, I think you can supplement your DT income by joining the hedge fund partner - Arsenio, Ramsbottom and Buttkus Associates - based in Flush, KS. I think we have a member on this board from that group as well. Earn enough to get those set of wheels...
iShares US Pharmaceuticals: 2,775,105 (No change)
iShares Nasdaq Biotechnology: 1,398,158 (+2,808 shares)
iShares Russell 2000 Growth: 798,950 (No change)
iShares Micro-Cap 247,987 (No change)
Vanguard Total Stock Mkt Idx: 1,605,168 (No change)
Vanguard Extended Market Idx Inv: 1,134,114 (+9,504 shares)
Vanguard Small Cap Index: 881,080 (+1,527 shares)
Vanguard Small Cap Growth Index Inv: 571,640 (No change)
Vanguard Instl Ttl Stk Mkt Idx InstlPls: 217,970 (No change)
Bottom line: All holding for eventual fire works...
OK, so that 7.2MM shares that exchanged hands on Aug 12-13 was not short covering. I thought it was controlled covering to let some HFs out without any pain. Since that is not the case, it could be some institutional buying since there was an upward bias on both days with large volume on the upticks and small volume on the downticks that we will hear about later.
bb, how much do they pay per post? My neighbor's, uncle's, brother-in-law is interested in making some money on the side. He has a high school diploma too. Much appreciated....
I suspect 280K shares is the stimulus. I don't see much option volume either. But $1 could have been the target for shorts to start covering. I don't think we are out of the woods by any means but if the current high holds, this will be the largest % rise for VVUS since...you guessed it - when yours truly first dipped his toes into this stock on Sep 18, 2014. Can you believe the volume was 34MM shares that day ($150MM exchanged)? Now there is $1.5MM exchanged or just 1% of that amount despite a double digit rise!!! This is a combination of the brutal take down (-75%) by the "entity" and low free float left to play with (4MM or so).
pmt, in your case, it makes sense to add aggressively to get your cost average down to break even with your scenario 2 ($8-10 offer). I will add only if your prediction of 80-90 cents comes true. For the record, I won't bet against it if I see the 3 year, 1 year, 1 month, or 1 week chart..