Well the stock goes from 16 to 11 and then he shorts it. Not exactly a rocket scientist type decision.
Guys like you are always on the outside looking in because you chase instead staying the course. MM's by design get people like you out of a stock before it is taken out. This is part of their playbook. That's why guys like you will never be long when the announcement comes. They make their living off of you.
That's what makes a horse race. I have been right on every stock I've bought for a buyout in the last several years. MITI, FURX, ITMN and I am still waiting on ACAD and ACHN to come in. And I am betting about $500k that they do.
This coming from the guy who shorts every bottom?
I don't pretend to try to trade ACHN. I have buys from as low as 9 to as high as 14. I am about breakeven right now. But I am selling when ACHN gets bought. So between now and then is all just noise.
LOL I just noticed I now own 12345 shares of ACHN. It was totally an accident too, I added 495 shares because that's how much cash I had available. Noticed it after the buy went through. I like it!
They stole 13.8M shares from us at ridiculously cheap pricing. Very frustrating and poorly done secondary. Really makes me believe they did this as a favor to let friends in cheap for a near term buyout.
Glad for the buyout when it happens, but I hope these clowns get sent to Club Fed over this secondary when it happens. It would be such a clear case of graft.
As happy as that would make me, it would still make me furious that they stole 12m shares from the current holders way below market pricing.
I haven't sold any. But I am very angry and I think I have a right to be. Clearly this was an ill timed decision and I question their motives. Where was the urgency?
This is how they do secondary's on the pink sheet market. What are these guys doing? Now these guys can short the stock here make a dollar, and then buy even more when it craters to new lows. Lather rinse and repeat.
Thanks ACHN for the telephone pole up the behind. I hope you guys get all that's coming to you.
Is it dumb or smart to do a secondary after a 40% correction on a sympathy move in the sector?
To me smart means doing the secondary two weeks ago at $15 or $16/share instead of selling into a panic a dollar below the bid.
The evidence doesn't support your theory. Unless you think doing a secondary immediately after a 40% correction over a dollar below the current trading price is a good idea.
Why do you say that it's a scam?