I can't wait until Sept 5th when we dont have to look at any more of these parasite attorney headlines anymore. It is amazing that any credible media outlet would publish this stuff.
I am long a few biotech stocks, including IDRA. I read an interesting article that really hit a nerve. It is about illegal naked short selling.
The title is "illegal short selling appears to lie at the heart of extensive stock manipulation scheme". Google it.
If it is true, then it is pretty frightening.
It is crazy as to how many shares traded yesterday compared to the float. I read an article today regarding illegal short selling. It is eerily similar to what I noticing with a bunch of biotech stock that I follow.
Google - Illegal short selling appears to lie at the heart of extensive stock manipulation scheme.
It was posted on June 16th, 2015
To all the longs - I read an article regarding illegal short selling, and it is appears to be exactly what is happening with CorMedix. The title of the article is below. You will be amazed at how these short sellers work.
Illegal Naked Short Selling Appears to Lie at the Heart of an Extensive Stock Manipulation Scheme
Posted by Larry Smith on Jun 16, 2015 •
I just read the BTIG report. This is such a joke. They estimated the company to make 1.56/share, and AMBAC blows out the estimate by posting a 5.70/share profit. Then BTIG rates the stock a neutral??? Really?? They just beat earning by 4.14 and they put a neutral rating at these levels?? I wonder if their clients are short the stock. What other explanation is there? This is ridiculous.
His results are awful. Look at his history, and current ranking. I would like to know if he was fired at FBR. I love how the spin on this is that it is new coverage. This is the same hack with a different jersey.
This is the same analyst that was at FBR, who put a $99 target on this stock. After he leaves, FBR upgrades the stock. Now, he jumps over to Morgan Stanley and puts a $165 target on the stock. Clearly this guy has an agenda. It is ridiculous that anyone is paying any attention to him.
it appears to me that there is a nasty little short in here, and they are trapped. Because of the volume they do not know what to do. As soon as this company finds a partner, this parasite will be forced out. They have plenty of cash to keep things going. This whole market is filled with #$%$ like this.
I will take a look at it. However, do you really think that AMBAC's market cap shoul only be worth 750 mil?
This is the same analyst that was at FBR, who put a $99 target on this stock. After he leaves, FBR upgrades the stock. Now, he jumps over to Morgan Stanley and puts a $165 target on the stock. Clearly this guy has an agenda. It is ridiculous that anyone is paying any attention to this guy.
What? Can not pay their dividends? What does than mean? This company is going to probably make $1bil this year.
As pointed out in the last earnings call. Cliffs contracts are based upon the price of hot rolled steel. The trade cases will likely lead to higher domestic prices.
Late Monday evening six US producers filed petitions for the imposition of antidumping and countervailing duties on hot-rolled coil imports from Australia, Brazil, Japan, The Republic of Korea, the Netherlands, Turkey and the UK.
According to a filing with the US Department of Commerce, the petitioners allege that HRC from the named countries is “being, or is likely to be, sold in the United States at less than fair value” and should be remedied by anti-dumping duties. In addition, “petitioners further allege that the governments of Brazil, Korea and Turkey are providing countervailable subsidies.”
The complaint filed by AK Steel, ArcelorMittal USA, Nucor, SSAB, Steel Dynamics Inc. and US Steel alleges dumping margins of roughly 19-200%, depending on the country of origin.
The alleged dumping rates are 99.20% for Australia; 21.80% for Brazil; 19.53-30.90% for Japan; 86.96-158.93% for South Korea; 55.21-173.17% for the Netherlands; 96.44-200.78% for Turkey, and 50.63-161.75% for the UK.
The petitions also allege that HRC producers in Brazil, South Korea, and Turkey benefit from numerous government subsidies subject to countervailing duties. The petitions identify 33 subsidy programs in Brazil, 41 in South Korea and 17 in Turkey.
China is not one of the countries named in these petitions, because US imports of its HRC are already subject to an anti-dumping order.
This week's petitions were filed concurrently with Commerce and the US International Trade Commission.
According to the filing, between June 2014 and May 2015 the seven cited countries accounted for 54.2% of all the 7.37 million st of HRC imports into the US. Korea was responsible for 18.9%; Turkey, 7.5%; the Netherlands, 6.6%; Japan, 6.3%, Brazil, 6.1%; Australia, 4.7% and the UK, 4.0%.
I agree. This stock is very undervalued. They are making millions of dollars, and really seem to have worked out their future strategy.
Wow, you are genius. How did you know that this would trade at 50% cash value, with a drug in phase III?
Trade cases have now been filed for coated steel, cold rolled, and hot rolled. The hot rolled suits were filed late yesterday. This is a huge for the domestic steel producers.
The Puerto Rico news was big yesterday. I think the shorts were very surprised by the earnings and are trying to keep it down. Look at MBIA the last two days. Regardless of this screwed up market, AMBAC should be up 3-5 today.
With Puerto Rico stating they have plenty of cash to pay Nov, and January's payment, and blowout earnings, this stock should have popped $5.00 today. It makes zero sense that it is this low.