I wonder if anyone here purchased AVEO at $2.70/share or higher in $3s/share range today?
When the stock first dropped to $2.70, I placed a buy-order for 10K shares thinking I could make some quick money by selling the shares later @ $2.95. Unfortunately, it dropped further all the way to the low $2.40s, then popped back to the highest @ $2.93, and my sell-order never been executed. I have the confidence that I will be able to sell these shares in the $3s range in the next two weeks as real data to be presented at the upcoming ASCO. I just want to check if any of you went through similar experience like mine during the day....
Thanks & Happy Trading... :)
Shorts are covering:
3/13/2015 48,689,999 5,766,938 8.442955
2/27/2015 51,520,145 9,174,316 5.615693
2/13/2015 48,821,153 6,666,010 7.323894
1/30/2015 45,753,863 4,597,009 9.95296
yes, agree with you that management are fully protected from any litigation based on the safe harbor statement they issued at the end of the news release. However, the clinical data show the opposite within just 3 months had created a gigantic shock wave throughout investors community which resulted almost 70% down in SP today. Management has completely lost all the credibility and no one trusted them any more. Without trust, it's difficult for them to hold on their shares. Beside that given the the market at the high in the last couple years, most funds will be better to sell MEIP shares for loss to offset those gain from other security investment and will re-purchase shares back at a later time with a very low cost basic in case still believe in MEIP or simply move on with other investment.
Since MEIP is expected to report a negative $10mil earning per quarter (of out the $78 cash they're currently having) in the next 2 year, it's reasonable to estimate that the stock price will continue to drop at a rate of 10/78*100% (or 10% - 12%) per quarter.
It's okay to hop in MEIP for a quick gain, but in for long term perhaps you may want to consider the following:
- on 12/08/2014 : MEI Pharma Reports Significant Clinical Activity in Phase II Study of Pracinostat in Front Line AML.
- Just over a week later on 12/17/2014, they announced completing public offering (PO) of 11.5 mil shares at the price over $4/share. Of course those acquired those 11.5 mil new shares must be based on the clinical results announced in the news release a week earlier.
- Today 03/23/2015 just over 3 months later they announced the clinical failed for not meeting its goal and the discontinuation of the clinical trial.
I think those purchasing 11.5 million shares in the PO last December are going after MEIP management for their loss, and the litigation announcements in the next couple week will probably push SP below today level.
yeah, right .. those "honorable and wonderful" people are really good at stealing/copying technologies from the West ... and going around bullying those small countries around them like Burma, Laos, Indo, Philippines, Taiwan, Tibet, Vietnam,...
I have plenty of those chinese history coming out from my bottom every day...
The so called "a history of 5,000+ years civilization" but it has produced those urgly/nasty creatures like you and had its people living under communism for almost a century, is obviously a piece of garbage.... The world will be much better without those animal creatures from china.