Short position drops 40% in 4 months to 21MM amidst the following backdrop.
1) Carl Icahn suddenly buys debt that is convertible to shares.
2) A new BOD with former Icahn connections joins.
3) FMC sells and runs with tail between legs (after dragging stock down from $12).
4) Alex Denner resigns, along with FMC, apparently waving white flag
5) One of their flagship products, Stendra, gets unchained from a horrible partnership.
6) CEO gets a huge 1.9MM options package at $1.06 which vests over 4 years!
Seems mighty 'fischy', no?
Just got to bunker down and wait for the fire. I am waiting to buy more after the CC....
Another interesting trend is that more than 35% of the volume in the last two weeks of Jan was short covering (3MM out of 8.3MM shares). Remember the spikes to 1.10? That's a huge percentage of short covering volume! As we get closer to the announcement of "Stendra unchained", the MMs, Blackrock and Icahn are doing a masterful job in getting the powerful short entity out of the stock with maximum profits. And this has to happen first before the rise, as that was the plan all along to manipulate the stock down to these levels.
Or from recent trends, today is another covering day. We should be well below 20MM shorted shares by the next SI report. Institutional holdings still sitting around 64MM shares. The disparity between the long and short positions is ever widening...
pmt, bubble doesn't sell anything. He just openly whines when price drops, while jostling with bashers under the same breath. He then catches a second or third or fourth wind and says he is buying again. Only new info is his position in VVUS ($14K was original worth).
No biggie until we close above $1.10 and stay there. This thing has been pivoting around a buck (+/- a dime)
for 10 weeks straight. Today was probably just another cover day of 500K-1MM shares. When is IEP Enterprises going to file dat 13F showing the millions they bought from FMC, Blackrock and Morgan Stanley? That is what I am waiting for...
And are we all going to live happily ever after? That's what will make your good story, a truly great story.
For every wolverine entering, we have a weasel leaving. I am much more interested to see what IEP Enterprises did over the past 4 months. File your 13F already, darn it!
Please don't tease me about Seth moving on. I would love for his rear to be shown the door and replaced with a dynamic CEO who will nod his head to Icahn's tunes. But the Sloth was just awarded almost 2 MILLION options with a 4 year vesting period. So, he may be here to stay :(. All I can hope for is he starts working for his interests now (so that he can make his bounty with the new options) since he cares two hoots about the shareholders. A $30 stock means a $55 MILLION windfall for Seth and half billion profit for Icahn (assuming he bought 10 MM shares down here to go with his 11.5MM shares @ $10 thru the bonds)...
Brings back good ol' memories when I was so passionate about this. Moron Seth did nothing. Hope Icahn does his usual thingy with companies he invests in...
That was a little disappointing. Question is, do they need to file if they are under 5% ownership? So, if IEP bought 5MM shares - they could still get away without filing? Not sure why they would do that unless there were no more shares available to buy or they didn't buy any at all. I was hoping for this to be one of the catalysts this year. Oh well....
1) Confiscate the Melatonin bottles
2) Unplug power to hyperbaric chamber
3) Temporarily cancel cable subscription
4) Provide last quarter's script to plagiarize with a few (immaterial) modifications to give the impression that he gives a s**t
I hope Icahn knows the protocol to get our Sloth ready for a CC every 3 months. I hope he doesn't think awarding 1.9MM options is an acceptable substitute!
pmt, Unless he passed the 5% threshold after Dec 31st and has till the next reporting period to announce his stake (around the time of the Stendra news). Again, I am not sure why he won't announce his stake if he had any shares since FMC is still reporting their silly 45K shares to the SEC. Maybe he is still trying to siphon as many shares down here as possible from anyone who would sell, before he has to announce (after exceeding 5.2MM shares)... Who knows? BTW, what is that petition you talk about? Has it got to do with Seth's gainful employment?
I will not be waving any white flag for a while. Stendra plan to be revealed by Mar 31st (date was volunteered by Seth). IEP Enterprise could have accumulated 5MM shares and still not required to file with the SEC (yet). The short position has dropped over 40% in 4 months (probably under 20MM shares now). CEO suddenly gets a huge stock option bonus at $1.06 strike price - out of the blue - during the "quiet period'. Tutes still holding over 60% of the stock. Stock held in a narrow range for almost 3 months. I agree that the price makes no sense - it hasn't since the spike last Oct - but every dog has it's day on Wall St. We still have $2.40/share in cash, much lower OPEX than 2015 and a big chunk of debt potentially retired with Icahn's entry. I ain't buying anymore till I get more clarity but by no means am I dejected by the manipulators' actions. If we are still $1 at the end of summer, then I may agree with you and bubbles. Cheers!
huge, those numbers on NASDAQ are a little off as they don't count Van Herk's 5.5MM shares. The VVUS website is more up-to-date and shows 56.34% institutional ownership. I may still be right about 60% as Icahn could have easily bought 5MM shares from the tutes (who oddly sold chunks that they bought just 3 months earlier for a loss) after his entry was announced, and stayed under the 5% rule till VVUS announces his plan. Besides, there are over 1.5MM shares held by a few longs on this board as well. My premise is that Icahn does not decide to buy bonds of a microcap out of the blue (and just before Stendra is unshackled and FMC/Denner leave) and Seth does not get 1.9MM options just like that either. The collapsing short position just adds more weight to my thesis that this is all good news for the future. I am not going to put too much weight to the CC (pun intended). But Mar 31st is my target to start seeing some significant changes to the stock price.
While we are at the rumor stage, that could also mean a generic deal with TEVA is in the offing. That would be a 1-2 punch, along with a new deal for Stendra (and upfront monies from both).
What? It is confirmed? I guess that will be a big point of discussion at the CC. Does that mean you are going to buy back, jason? I may buy more after the CC as well. I think a TEVA deal is also near and so FDA dropped the CVOT requirement for VVUS. Very interesting development!
What was I thinking when I remarked that this MB needs you back? I realized that it was a brain fart of epic proportions (on my part) when I saw that Stendra injection drivel nonsense from you again. But I accept that I opened a Pandora's box, looking for some relief from that one-liner joker. Welcome back Mr. troll. I humbly beseech you to entertain us without lies and deceit. I know that is a huge ask but you're a pumpkin head, no?