On Wednesday 18, the stock went down from $6.38 to low of $6.18 with relatively high volume of 1,260,300.
On Thursday 19, the stock went up with low volume of 843,400.
Today, Friday 20, the stock is down again with relatively high volume again.
So, when a stock goes down with high volume and recovers some with low volume means trouble ahead.
Fridays may not be a happy day for some stocks like SPPI that releases bad news after the market closes on Fridays like recent court loss to Sandoz.
A smart young CEO with prestige can push the stock to $20. However, this is reality of this company at this time and it serves some people interest.
Give me one reason for your "Great Time To Get In" while you may be exiting.
Now if it was $6.01 like a few days ago then I may say, well there is a chance to lose less but at current prices, you are looking at dead money.
What is wrong with a second opinion even if it is negative. You don't need rah rah SPPI to moon and then lose all your hard earned money.
But there are a lot of risk investing in SPPI and some investors have already been burned. It happened in 2013 and it happened recently and of course it will happen again in near or far future.
Today's action is reflection of options for tomorrow.
Pro option players are pushing the price to Max Pain.
Max Pain is a price that big player like to get to maximize their profit and minimize their losses.
Apparently, that worked to upside today but tomorrow is another story.
I expect the stock drop tomorrow afternoon after big players cash in.
It does not matter how long you have held the stock or how long more you will hold it, the SPPI technical is negative and point to lower prices until it consolidates in low $6 if there is no bad news. In that case, you may say that technical are turning positive.
After all, technical is used for entry and exit from a stock and if you have been in the stock already and you have no plan to exit then why are you talking about SPPI technical?
This is not technical analysis but a wishful that the stock goes above your buying price.
All technical lines are in downtrend and worst, a gap opened this morning and mostly there is no volume.
When technical lines become flat and then switch to uptrend then you may have a hope but the stock will go down in coming days.
I say Q4 earnings was not good since except Fusilev, other drugs rev went down or flat compare to Q3 2014.
Ok, Fusilev rev did a good job and that is the point that the best selling drug of SPPI has gone generic and rev and income will be affected significantly. Meanwhile, short interest is going up every month.
As raj said during Q4 CC, SPPI may lose significant revenue in coming quarters.