I think everyone is kidding themselves if they don't think PM is not doing any selling. Look at the volume. Do you think that is just traders. Institiutionals are the only ones that can make moves this big. I am sure PM could not sell shares per an agreement UNTIL LS got approved. Hence the reason for all the shorts. They know that PM was going to dump half their shares but needed big news to bring in enough buyers. Why else would the short volume peak right before approval? They knew. We just have to wait for these idiots to complete their liquidation
We have someone that worked for JPMorgan, got the boot, then did a report with a price target of 1.50...just a few weeks after JPMorgan bought 1.5 million shares at 3.10. And the guy is getting away with this?
I think you're right. It is just way too risky to short this stock now. I mean, how much does anyone see the pps declining. It just seems weird that they would short a stock this close to a major milestone. Less than three months from approval...I just don't get it.
Absolutely there will be a sell off. Third Party Manufacturing issues is an automatic Class II. That means the FDA will push the PDUFA date out 6 months. Even if it does come earlier, it won't be like a Class I which would be three months. The FDA are crooks. It will cost Impax $1 million to resubmit. They did the same thing to NAVB.
I do trade. PATH was 3.78 at the open. If you had placed your order, the bid would not have been that high. Nice try.
Let's also keep in mind the sales force of Cardinal Health once LS is approved. I believe they get an immediate 3mm in cash upon approval, then the driving force of a 100 Billion revenue company will start selling it.
This looks very interesting. Yes I think something big is about to happen. If you look at the 8k, it says they will basically be converting the EXEL Stock FUND to INDIVIDUAL shares in the 401k. Well, why do the need to convert to individual shares. I am not going to start any rumors, but remember last year when EXEL started working with Goldman with potential buyout in the future? Something is going on.
The only thing I am worried about are the layoffs they will announce for the US sales team on the 20th. I am very worried as to why they would not give an exact number. Usually that means a lot more than they want the public to know. The stock go hit hard when they mentioned they were getting rid of 300 drug reps in Canada due to declining sales and market share. To play it safe, I am planning on selling probably on the 18th of Dec (going to lock in my 15% cap gains tax) and will buy back after they make the announcement on the 20th. If it turns out they are getting rid of half their sales force, that will be really bad. I waiting to buy in after that. Also, it looks like an insider just sold 100k shares, that is not a good short term sign either. However, with 10 billion set to buy back shares, we should have a stable 2013. Just remember, the stock is at a 5 year high and has basically doubled over the past two years on declining revenue, there could be a small pullback.