When I want to see how in the HOLE I could have been if I didn't sell at $6. . . . bought the IPO at $20 and it tanked and tanked and . . . . . this is a loser folks . . . . Café Press makes cool stuff and pays the employees fairly but guess who is paying for this ? Marcus Lemonis needs to take over this mess and make this place Profitable.
You are cordially invited to our special meeting of stockholders, to be held at 10:00 a.m. local time, on Monday, November 17, 2014, at the offices of our legal counsel, Alston & Bird LLP, located at 90 Park Avenue, New York, New York 10016. At the meeting, the stockholders will be asked to approve an amendment to our 2013 Incentive Plan to increase the number of authorized shares issuable thereunder from 3,500,000 to 9,500,000. You will also have the opportunity to ask questions and make comments at the meeting.
It is important that your stock be represented at the meeting regardless of the number of shares you hold. You are encouraged to specify your voting preferences by marking our proxy card and returning it as directed. If you do attend the meeting and wish to vote in person, you may revoke your proxy at the meeting.
If you have any questions about the proxy statement, please contact Brian Adams, our General Counsel and Corporate Secretary, at (617) 466-3452.
It wasn't long ago that ICEMAN was a employee of BAUPOST. His boss was a woman in the company and ICEMAN had a SHORT AFFAIR with her HUSBAND. ICEMAN tried to keep the relationship going but his DUDE BUDDY was ashamed and decided being straight was a better way. Meanwhile ICEMAN's boss was fired up about this whole deal that started at a BAUPOST holiday party. ICEMAN wanted BAUPOST to short KERX while his boss TINA divorced and found a new man friend who worked at KERYX. TINA was able to get all sorts of data that made ICEMAN'S short position look as stupid as rat fecal matter, so the company fired ICEMAN and he has held a grudge against his former boss ever since.
TINA has moved in with her KERYX man and is living the life in between Boston and NYC. ICEMAN has found a little ghetto town for his early retirement outside of BALTIMORE.
So now you know . . . . the rest of the story.
Thanks to Seth Klarman's investment firm Baupost Group has filed an amended 13G regarding their position in Keryx Biopharmaceuticals (KERX). Per the filing, Baupost now owns 19.93% of the company with 18.3 million shares.
Read more: http://www.marketfolly.com/2014/10/baupost-group-boosts-keryx.html#ixzz3Fp8kTOKZ
This is a HUGE POSITION . They have got to be fronting for a bigger fish that is just about ready to swallow Keryx.
NO NEWS till next week. The stock drops to $15.
SOME NEWS next week. The stock pops to $17.
NO NEWS for a bit and the stock drops to $16.
This is all wonderful for those who time the trades but there will come a JUDGEMENT DAY , I'll guess in mid-late November - BUYOUT !!
Then the game is over.
You and many others but every stock has its twists and turns. At this point the stock is too cheap NOT to buy. The major point of concern was the approval, as that was not a controlled affair. Now that the stock is approved, this is a takeover target. The logic for having it UNNAMED , is that the new owners will exercise that option.
By the way, I respect anyone walking away and taking a profit at any point. Heck, I even respect those who are shorting and profit. Profit is always a good thing. That is why I am staying in - because I am looking to profit. I have bought and sold KERX - even sold my remaining position at $18 before the approval, then bought back in at $16 after the approval. At this point I am ahead of the game but, like you , I am surprised at this low moment we are in now - after being approved.
The catalysts will be rumblings of a buy out and when that eventually occurs. Even the drug being named will be a catalyst. Also , the drug being marketed will be a catalyst.
Thank you for your well wishes.
Let's say you are looking to purchase a vehicle. You know exactly the model and color you like. You even found the exact one that Kevin has down the road. Good thing for you that Kevin is unaware of the rare value of this car that you know is easily worth 25K. To help you out, you call upon an unbiased mechanic who meets you and Kevin to discuss this car's mechanical flaws and value. Little does Kevin, the car's seller know, that you have a pact with the mechanic that is long standing.
After a test drive , the mechanic comes up with some major concerns about the brake lines, the engine mounts, and even a transmission flaw he says is characteristic of this particular vehicle. With all the repair concerns, he declares a value of 15K.
Kevin, the vehicle owner, had originally wanted 20K but after hearing this so-called unbiased mechanic, he is feeling , he'd be lucky to get anything over 15K.
So you offer 15K and Kevin is torn. Of course he comes down to 18K and finally the dust settles at 17K for a car you know is well worth 25K.
As far as KERYX goes . . . . it's a similar deal. The stock price was getting a little high. Merck, Sanofi, GSK, Bristol, or one of these big pharm players wants to buy. Keryx wants to sell. The Keryx boys are getting their cut (they are the mechanics). You (the stockholder) are the seller. The bad label is the flaw. You thought you would get $25 - $30 a share with a buy out but now , you would be happy with $20-$23 even though, with this approval, you know the stock should be higher than the $18 pre-approval trade price.
You can whine all you want that you are not getting $30 a share but you really should be buying at $15.
PFZEIR may have an ERECTION to buy out KERYX. At $16 , the #$%$ must be very stiff.
The buyout by Sanofi is looking very possible. This is an area of expertise Sanofi would like to retain a monopoly on. As far as the label. . . . . they all have a label and some even warn of death.