The average biotech is not trading up on 4 to 5X their normal trading volume. Do you guys just ignore everything and want to throw you money away shorting this thing. Oh well, some people should just invest in CD's.
Frost has so many options, and he is respected and savvy. OPK has great assets in their pipeline, and there are so many ways Frost can use them to either sell the company outright, or partner or sell the pieces individually. I enjoy watching the guy do his thing.
When shorts check to see their position is looking pretty precarious, I believe they will finally get the message and cover. People shorting OPK didn't show much in the way of smarts to begin with, but when they check the money they are losing, reality will eventually set in.
Total volume could reach 8 to 10 million shares at this pace.
With such a large short position, who knows how high this could go if longs hold on and don't sell into the rally. With more good news to come, I am holding tight!
Just a matter of time!
10 cent drop on earnings miss tells you that OPK is being valued for its pipeline and business endeavors throughout the world. Approvals and continuing research are going to provide some real positive momentum for OPK in the coming months. Monday's CC may be just the beginning. IMHO.
I have stocked up on OPK at these levels, and I have held my position for months. The 30% drop you are talking about would be off the $11+ top the stock hit for a short time. Most of the year the stock has bounced around in the $8 - $9 level. Most of you shorts are paying to borrow shares to short with very little downside gained. With a lot of positive news pending, I don't see this stock dropping below $8. Hmm! I think I'll buy a few more shares!
I guess today would be their best bet, but there was a lot of good news on the research front, and the company is sitting on something like $118 million in cash. I expect Frost will be in there buying big time today no matter what the price does. I love an insider who puts his own money on the line. Too many insiders, especially in bio-techs, reap big paychecks and could care less about the individual investor. I don't know if Frost gives a hoot about us, but his constant strong buying gives OPK tremendous support and provides a safety net to prevent a big sell-off. That's why I can't see why shorts continue to fool around with this stock. After today, shorts are going to be holding an expensive position with little upside for quite some time if at all! IMHO.
Cldx has years to go before any of their drugs could get approval. Guys fell in love with the possibilities, and the stock got way ahead of itself. PFE walked away from their collaboration with CLDX for a reason. Pumpers like Fraz, etc. have encouraged others to jump in even at much higher levels. I expect this position to be dead money for quite some time. IMHO.
Christie essentially raised taxes by something like 20% for most state residents by eliminating the Homestead Tax Rebate which was designed to lower the real estate burden on state residents. He also cut the senior's rebates. Now I guess the big guy can say he didn't "raise" taxes, but people are paying a lot more. Christie's record sucks, and the fact that NJ's budget has been downgraded a record 8 times says it all. He has proven that he can't control the actions of his aides, nor can he control his anger and his mouth.
CTIX is trading and is up a nickel!