All it took was some market volatility to trigger margin calls forcing Hedge's to cover some of their short positions (per Adam F)
I too noticed that during this volatile period many shorted biotech's experienced a bounce, which is counter-indicated during a market correction.
I ask you merely as a hypothetical, If I noticed this weakness don't you think the real players also noticed? Isn't it also possible, with resources and this exposure of weakness, that during this time when all gains for 2014 have been erased that players with resources may take advantage of this weakness to eek out some gains for 2014, by forcing the long sought after but rarely seen short squeeze?
Hypothetical yes but certainly possible.
Green across the board in biotech, indexes up, MNKD getting ^%$#&^ again. Not moving the needle much though so that's good.
God i would love to see them lose control of this thing!!!!!!
I hate to agree with AF but I had the exact same thought yesterday as I observed that several stock that are currently heavily shorted were bouncing yesterday.
I appears that they are making sure not to cover any MNKD today as this is their biggest short position.
Do we hope the market corrects? Counter-intuitive Yes?
We are only a little more than one hour in and we have already reached the 10 day average volume for the day.
This study was completed August 2014 and only enrolled approx 30 patients. If we are not in some sort of quiet period what could possibly be taking them so long to release this data?
Has anyone heard/ seen what the results were?
Are we really in some sort of quiet period? What's going on here?
I will admit it. Right or wrong I feel betrayed by the silence of MNKD just as many of you do.
However taking a longer term view there are a few advantages to bringing down our market cap prior to launch.
1) Hopefully the shorts will cover and go away rather than plaguing us and our stock price for a few years to come.
2) As our market cap goes lower so too do our expectations, making the attainment of a "successful" launch much easier.
3) The risk vs reward gets better every day.
Like it or not the "temporary" pain (please god let this be a bottom) will make life easier for us post launch. Instead of a company constantly trying to catch up with itself, repeatedly falling short of expectations, quarter after quarter, we should be able to grow into and beyond our market cap in short order. Though this may sound overly optimistic given our current situation, I believe a quick march through our current valuation (as measured by revenue) will give us much more momentum going forward and will eventually support a much higher earnings multiple than if we took years to grow into our market cap.
As for myself, I never in a million years thought the stock would fall this far this fast, but seeing the forest through the trees one has to realize you have to step back and be objective about the CURRENT situation and measure the risk vs. reward TODAY.
I bought was was to be my last purchase at 5.98 and I am waiting for funds to clear to buy an equal purchase down here. Once completed I will be in the 20K club. If misery loves company you can count on me to be here for awhile.
Good luck to all longs.
LOL almost my entire screen on ignore. Yea its obvious to me at least that the 450K red candle was a full on assault at 5.00 coupled of course with some mad bashing.
I think we will hold 5.00 by EOD