CFO leaving is a good thing if he didn't really want to be with the company for personal reasons. If the market decided to punish FTNT for that, so be it. It gave new investors in FTNT a cheap entry and allowed long time investors a chance to average down. The buyback will allow FTNT to reduce its float and increase earnings per share at a bargain price if done quickly. With investment houses, analysts, etc. coming out with their 2014 wish lists of stocks to buy, FTNT should look pretty interesting and undervalued at this price. The CFO drama aside, FTNT should be trading higher by a couple of bucks IMHO.
If you sell your shares for a tax loss, you can't buy back in quick enough to take advantage of what I think will be a solid bounce. Now that we have breached $18, I expect bargain hunting, analyst upgrades, and the buyback to push this considerably higher. If this dips much below $18 again, I will continue to add more shares.
Another Fox type coverage of NWBO's results and shorting this stock could be a big pain in the #$%$. Even after tomorrow's presentation, news outlets may pick up the story over the next few days and weeks. Should be interesting. IMHO. Good luck!
Here we go! Look for end of the year bargain hunting to push this puppy much higher. I don't know what the short float is, and I pretty much don't care, but this buyback announcement seems to be stimulating buying big time.
I called it a couple of weeks back. With all the cash the company is sitting on, buying back its shares at a 15% discount is the best investment they can make. It also helps earnings by reducing the share float. The company obviously knows the full details of why the CFO left, so buying back at this time confirms to me that there is no other bad news to come. IMHO.
I expect more upgrades will be coming as analysts make their picks for 2014. FTNT seems like a no brainer as the stock is selling at a 15% discount after announcing good earnings. When you throw in the fact that they are on the cutting edge of the security market at a time when security breaches are becoming quite common, you have a double reason to jump on board. IMHO.
What we heard before was outstanding. I see no reason why this update would be anything less. Companies don't do presentations to brag about bad news, they just issue a press release in the dark of night and hope nobody notices. Ha!
I believe the company said they will not take a long as last time to pick a new CFO. They probably did a comprehensive job search then and can rely on what they found. Provided the same candidates are still available, FTNT should be able to move sooner rather than later. Announcement of a new CFO should propel the stock higher. IMHO.
He has called politicians and private citizens all kind of names, and in most cases he has never even apologized. Well, at least in his case, when you look at his drug abuse, womanizing, etc., you can consider the legitimacy of the source. Luckily, the Cldx board is the only board that I visit that gets into all the political baloney. Couldn't resist responding to the blatant hypocrisy. Time to get back to research and making money. Good luck!
The fact that DCvax has a great toxicity profile tells me that it has great potential. Since you can combine it with just about any standard treatment and it is comparatively cheep to other treatments is also a big plus.
That's why I bought more yesterday. This company is still selling at fire sale prices and all the evidence we have so far tell us that there is no fire!
I agree with your logic. And who knows, maybe someone will come in and try to buy these guys. The longer FTNT's stock price stays at a depressed level, the more attractive it is as a takeover candidate. With all the cash the company is sitting on, they would be very easy to buy. I believe they have over $5 a share in cash and no debt. How much better can it get!
I bought a little more at the close on the dip. I don't think the Fed will taper until March at the earliest. At this price, FTNT is still selling at fire sale prices. If the jobs report is not exceptionally strong tomorrow, I would expect to see a pretty strong market rally.
Cover your short position if you actually trade and move on. Save yourself some money and stop wasting your time.
Tomorrow could be even better as the market gets comfortable with the fact that CFO leaving is not associated with any problems. The company apparently had indicated that their CFO search should proceed much faster than the last time. Maybe they passed over someone who they probably should have taken instead. Hopefully, he or she is still interested.
All bio-techs do this when they need money or the price is high. CLDX, which also has a treatment in development for GBM, just announced that they were issuing shares at a considerable discount. Check their message board to see how unhappy some of them are. CLDX has been flying high, but interestingly enough, the research comparisons I have seen have shown NWBO's DCvax has been performing better than CLDX's drug in the study trials. Bio-techs are tough to hold sometimes, but the rewards can be significant.