I just added a small amount of shares and I had to come up well over the quote price and over what I was seeing as the ask, this is pennies and I do not have the sophisticated trading software that others have.... Anyway, just wanted to point out that shares aren't exactly being shaken loose @ 117-118; further the volume is anemic. I don't mind a drop on a summer Friday (big boys are already in the Hamptons) when the market is trading like it is today. gl & have a good weekend.
The new article isn't anything fantastic, either in the form of new info or original thoughts. However, it does show that more people are beginning to take notice of RAVE. Coverage initiated by two analysts and now an article and ranking from Zacks.
It's one of the most feeble attempts at a hit piece yet. From the article: Texas said that, as of last month, it “anticipated being involved” in the multistate case, according to the June 12 letter, a response to a freedom of information request in May.
Basically someone filed freedom of info request and Tx said we anticipate being involved (unfortunately they have to reply). Which is a total rehash from about a year ago. I do have to say that I do appreciate that it is only twisting information instead of blatant lies, a la Gretchen.
I think saram may be correct. If this was part of an attack, I would have expected the pps to have been pushed up over the last few days. Nice call saram.
I had no plans of buying MNK today, but when seeing it drop to 119 this am I got interested. I took a very quick, rudimentary look @ the charts and based upon the pps of May 6 & 7 decided that $117.50 may have been a number the algos would try to hit and my order was filled just below that. Obviously I could have had a better entry, but I set my buy and leave it when I have some conviction.
As I really value the incite of those on this board I wanted to ask if you think the drop today was at all chart based or algos just taking out stops (even if it was algos taking out stops; one can argue that the stops were set by traders based upon charts or trading patterns).
Today was a bit nostalgic, remember the good 'ol days where all you had to do was have some powder and if you were fast enough, you could buy the Q during the bear raid blue light sale.
Listen to the call regarding #2, as I heard it, Mark was saying that Acthar 2014 Q2 sales were high, and that they would beat them this quarter, yoy, however, the high scripts last year would depress the 2015 Q2 yoy % increase... His comments was delivered in a rather mysterious way; he was pointing out the high sales last year and saying that he didn't want their to be any surprises when they report. However, he immediately followed it up by saying that if they had low double digit growth for the quarter closing in June, that it would further show the strength of Acthar considering the comps from last year.
Also, after listening to the entire call, Mark was very forward on their plans to sell the imaging business and further said that they had worked around the tax problems they previously had. I'm guessing they were delaying the sale until they could obtain a preferential tax status. I'd expect a sale in no more than a year; more $ for the next acquisition!
I missed the end of it, but will listen to it again tonight.
Keeping in mind that Mark is one to under-promise and over-deliver, my take always were:
1. Still looking for acquisitions.
2. Piggy gel comps from last year were very high, lightly said, as the upcoming quarter's #'s will be compared to blockbuster #s last year.
3. Lupus results coming soon, he sounded overly confident which is something Mark rarely does. As some others pointed out a month or so ago MNK now sponsors the lupus foundation, connect the dots.
Ya, Hans and Franz are here to pump you up!!! Ha. In all seriousness jonz and all of the alias' you use, even if I wanted to dump this turd I can't. You see, there are these pesky tax laws. Let me explain; so I bought this company years ago for $30/share who sold this medicine that was made from the brains of pigs or something like dead porcupines. And then this guy Left did some studies to find out the drug was bogus and some guy QTR wrote dozens of articles about the sham that I had bought into. However, because I am an idiot bagholder, I held it for years. Then this company from Ireland (obviously run by drunken leprechauns) bought them and gave me $30/ share + 0.897 shares of their company. And that is where my problem lies, the government now wants me to pay income taxes on these GAINS. However, I am greedy and want to keep this money. So I will remain an idiot bagholder for some time. Even when I am eligible to sell and claim capital gains, I think I will still hold, because I have nothing to loose. My break even point is MNK = $0, I was already paid out my initial investment. Beyond that I've swung traded this to the upside to make some decent coin too. Sure, I would be more happy if the pps was fairly valued, but I'm still sitting pretty right here.
For what it's worth I applaud your short efforts, its obvious you've also made some decent money. But it's hard to have any respect for someone who spends so much time trying to screw with others.
If you've read this entire rant, best of luck to all. Joe
RAVE has recently attracted a short interest, for those of us that have been following this for years a short interest in this small stock is new. I do agree that it could simply be someone selling their shares in blocks, but based upon it being the end of the day, the # of trades & the volume I was hypothesizing that it was shares being sold short. It doesn't mean that I'm correct, I was just trying to get some feedback
Was this a push down attempt on low volume at the end of the day? I find it strange with a small stock that has suddenly built up a short interest, met earnings and traded up all day on low volume, then at the end of the day a rather sudden drop. It looks like it took some decent volume for it to drop here. I would venture to guess it is not a long selling due to earnings, as that would have been done very early in the day. I added a few more shares here.
Does anyone see any reason that this dropped late in the day? Other than shares being sold short.
I saw your post this morning and I had assumed you were referring to calls that had been sold @ a 350 strike. This post says that you noticed a chunk of puts had been sold on the 350 strike for june... If someone was selling puts with a 350 strike, wouldn't that imply that they believe the IBB will be above 350 come the June expiration?
NYJ, you sure did call it! I saw the action in the call options, but I did not correctly interpret as you did. I did reduce my calls and the few I have expire in Oct, however had I acted sooner I would have lessened the blow. I sold off my trading shares around $127 and I just moved that money back in @ $117 today, so this is a welcome pull back.
Anyway, just wanted to say great call.
I certainly could be. I just have a hard time understanding why someone would put so much effort into screwing w/ people just for their own entertainment. That would take a truly sick individual.
I don't think Jonz is a bot. He is a real person who trolls the boards looking to create controversy. I would assume that Jonz doesn't even have a dime in the market. He likely represents someone pushing big short positions; it is insane how his posts coincide with the downward trends of the pps. I've recently begun to think that he doesn't represent someone just trying to short the thing to make a few bucks, but someone using a bit more of a multi-pronged attack, such as shorting the pps down to shake enough shares loose to cover the new short as well as a portion of the short position they remain trapped in from the QCOR days. The slow draw down in the short interest might support this and this may be the only way for them to cover w/o skyrocketing the pps.
Jonz is also only out to twist a knife into the sides of people on this board when they're having a bad day to attempt to shake more shares loose. I have to admit that I like to see the pps drop sometimes as it assists with my trading strategy, but we all have days where we're on the wrong side of the trade. Big picture, we all know where this stands.... gl to all
Thanks again NYJ! It looks like the OI I was looking at was not updated and did not reflect Friday's volume. Thanks for all the input.
What do you think in the steady open interest? When the daily volume is over 170% of the open interest there had to be some amount of flipping.
Thanks for the info on BTX, I've been watching it for the last few weeks after hearing about it on this board. I really need to do some actual DD on that one!