Throughout its History , Insiders have shorted this POs as it goes up knowing they can cover using the new issue and warrant. Once they cover they quit having made a fortune in millions offloading to small suckers like us.
This has happened repeatedly for the past 10 years.
Longs will recall when BLDP ran up to $1.52 it was instantaneously shorted on huge volume. Those short trades were likely made by the same People who got the warrants and new issue.
Longs were shafted as usual.
Valuation depends on cash flow and pipeline. Currently the later has little value only because SPPI has no proven track record of resurrecting fallen angels.which they buy from other Pharmas.
The run up to +$17 was based on Fusilev sales . IMO that chapter is now over and the stock is likeley to revert to its pre Fusilev valuations closer to the $5 level.
Many will consider that level is too low and they may be right. Good luck.!
Raj our beloved CEO has been giving away his hard earned money to the poor . During his last visit to India when he was doing his Khumb pilgrimage nearly 500 poor people followed him daily for a touch of his healing powers and a few Ten Rupee notes.
Incidentally, he does not believe in Law suits and prefers a Bush shirt. Such simplicity who could ask for anythng more.!
How did you arrive at that .?
He is a YOGA master who stands on his head and therfore sees the world differently than we are used to. His friends say he is now practicing how to fly by meditation . If he succeeds he will surely try to lift us next.!
Raj has just been to the Khumb Mela.He was known there as the Miracle man and was popular. As he was born in the tropics, he is known to dislike shorts.
No buyers. In Calcutta his home town, they call it Mittal paper.. You may ask why because they seem to have printed so many of these certificates which are worth little to the locals.
The C0.. has talent but it cannot covert that to cash flow in the short haul. A drug approval is tediuosly slow and expensive. To acheive that you need deep pockets, excellent Lab know how/luck and some big Pharma networking skills.
The recovery will now be slow only because Investors remember the past & the hype be it from outsiders or Insiders.
The CEO is of Vedic descent from the Warrior caste. of Shatriyas. I was told the family are very spiritual and that this year he has been to the Khumb Mela festival where he has been cleansed .free of any misdeeds.
He is known to recline with his shoes off ; a known vedic pose for relaxation. Because he lies down that way does not make him a liar.!
Not good . They obviously expect to milk this cow some more.
Too early. This has another 18 mths of downhill memebership.. It will be in single digits when exhausted. U need to be patient.