Your continued hard work, thrift, and investing research is a good example to all !!
Stay thirsty my friend!!
I was thinking the very same thing.... My gut is telling me that they'll ask for a discounted price... or more shares based on what's happened... that's the likely scenario...
Never committed to SPPI? I held SPPI, as I recall for about 6 months to a year... I'd have to check my records.....
I believed what I said at the time... and was acquiring shares as I said... I've owned other biotechs and was bullish while acquiring... I've never acquired shares only to pump a stock... a posting board is what you make of it... for me it was sharing ideas with other investors...
I re-evaluated my position after Armistice posted their letter,.. and the market started to flatline.... I'm not a daytrader, tending to buy and hold for 6 months to several years... In SPPI's case my sentiment changed partially due to the controlling interests behavior,.. disappointment with Raj & the management team, and the macro economy...
Your accusation of a bunch of hype pump talk is simply false... If you think a person's sentiment & position changing after 6 months to a year of holding a stock negates anything they said... you're simply being unrealistic.... I didn't come back here to bash SPPI after I sold... SPPI could surprise the naysayers.... I just won't be holding in this environment.
Good luck with your holding of UPRO.. I had some recent luck with SDS... and suggest you reconsider switching from an ultra long to and ultra short.... the market is pretty anemic...
I've contemplated this based upon the plenty of examples we have in corporations impacting the legislative, executive, and judicial branches of government, as well as the ties between Wallstreet and the SEC....
The fact is where there are people, power, & money involved...... there is likely going to be opportunity for influence, bias, and corruption.
SPECTRUM PHARMACEUTICALS, INC. v. BURWELL et al
District Of Columbia District Court, Case No. 1:15-cv-00631
PACER 35 Filed: 5/18/2015, Entered: None Sealed Document
PACER 34 Filed: 5/18/2015, Entered: None Notice of Appearance
As I recall, you mentioned that the DC court case was being heard today... when will receive useful info on this topic??
Regardless of what you think of Raj,... and your likely current position... I think you've at the very least misjudged CE Melph... this one one has a high probability of success... the % of the current market is debatable.... but it should quite positive.
Yes... before sts and others might quickly state it.... that's about the value of one retail owner's viewpoint in the big scheme of things... considering the majority of the company's shares are owned by institutional investors:
1.) my intent is to vote against the board & compensation,.. but vote for the flexible convertible settlement terms
2.) Although one could argue that the goals of Armistice are totally self-seeking & maybe not in the best long term interests of shareholders,.. can anyone refute any of the claims they've laid at Raj's feet? The facts are prettying damning in my viewpoint...
3.) Change is *definitely* needed at SPPI. Whether that change is with Raj's absence, or with him in charge, that's to be determined. My original investment thesis in Spectrum was based on an investment in an out-of-favor company that could be turned around... either through an "organic" improvements (i.e. pipeline improvements, earnings improvement, etc.)... or "inorganic" / "outside-driven change (which would be not be my first choice).
4.) There are still some reportedly near term catalysts that could put some wind in the existing SPPI management's sail,... e.g. the near term DC legal proceedings. However, the spotlight, like a laser, has now been very zero'd in on Raj & the existing BOD concerning negligence in their fiduciary responsibilities. I applaud Armistice for having the courage and determination to take on a company leadership that has ignored it's shareholders in prior votes..... I don't have anything personal against Raj, other than the fact he essentially thumbed his nose against shareholders in the prior votes... and on this point,.. his continued tenure is now very much at risk.
5.) There obviously isn't a binary outcome in the latest development,... i.e. it won't be a a.) live with Raj & current BOD leadership and life goes on or b.) sell at $8. It will be something different, and likely better for shareholders!
... still hoping that someone might listen to your FUD posts so that you can recover the $$ lost on your short position... keep posting away Elmer FUD!
... I won't be the one to defend Raj... regardless of what he's done historically for the company, he first and foremost needs to be held accountable for the excesses, and apparent "doctoring" of the performance benchmarks.... the fact that the BOD overlooked these excesses makes them culpable.... My gut is telling me, regardless of what you think of Armistice, is that change will be driven at SPPI... -AND- that change *may* include Raj's and the BOD members dismissal... we'll see!
I personally bought SPPI because the stock was out of favor for a number of reasons... change is necessary at SPPI... and the "buck stops" at Raj's desk... and at the BOD... my votes will be against the compensation,.. and against most of the BOD members...
I like SPPI's current valuation & future prospects based on approved products and the pipeline... I like the strategy,.. etc.,... however,... we just need to see leadership change... in my assessment.