I've said on this thread for years that the Fed is in a box. They have no more tools to play with. If they stop the tapering, then they concede we're heading for a possible recession. If they continue the taper, the stock market will fall anyway.
Bear market here we come.
There's nothing wrong with these results. The market is heading towards a correction mode, and is taking everything along the way. It's called the baby with the bathwater. NLNK should recover.
And now in English, for the rest of the board, if this company met their primary endpoints in Phase III, this stock will head back to the $50's in a hurry.
Wall street may finally be waking up and realizing that gravity effects stocks after awhile. I think the entire market is in for a substantial correction.
The market is down over 50 points, and this dog is DOWN 3%. Unless there's a geopolitical catalyst, this thing will bleed back to the $30's again....It's not worth holding.
the street would agree at this point, as the chart has recovered rather well. I'm in.....
It's called taking a profit, from $41 last week to $27, and I'd do it again. You'll always leave something on the table, whether you're long or short a stock. I don't doubt that there's more downside, but there are other opportunities out there as well, as I think we're heading into a market wide correction. GLTA.
The sell side is well known on the street for pumping up stocks, in part to get investment banking business. To save face, those firms will have to downgrade or drastically lower the targets. I wouldn't trust any analyst.
This is no longer an earnings story. That said, the results out this morning are not what traders expected, and it looks like more downside is inevitable.
The earnings could beat expectations, but INSY is no longer an earnings story. The ongoing investigation will probably adversely effect any guidance they may give....My guess is they may opt not to give guidance at all.
Short since $41.50, but initiated based solely on the chart at the time, before any of the recent news. The chart is usually a leading indicator.
The medicare fraud situation is not the only thing weighing on the stock. Re-read the hedge fund's short thesis. There are potential issues with the flagship drug.....The FDA is alerted to the fact that the drug may be highly addictive. If the fraud is connected to scripts used for recreational purposes, all hell will break loose, and this stock could trade in the single digits. Justified or not, I think the market is reacting to the overall uncertainty, which I don't think could be alleviated in one conference call tomorrow.
I agree....I really think YELP could be in play, and at a huge premium.
The VIX is near 11, Jim Paulsen told CNBC today "we're setting up for another run much higher", after conceding we could have a correction soon. I really think the best short opportunity is coming very soon.....For me, I'm short INYS since $40.....don't be jealous, there's still a lot of downside....Medicare fraud situation.
This guy has a short thesis regarding INSY, that has nothing at all to do with the medicare fraud issue that hit the stock this past Friday. I'm afraid there's much more downside and uncertainty to come:
As reported in the Forbes article today:
"Further, the company uses a sales performance compensation system to their chain of agents who introduce the drugs to doctors. As Hempton says:
"But the main differentiation for this company is the “incentive-based pay structure” whereby “a significant component of the compensation paid to sales representatives is in the form of potential bonuses based on sales performance”.
Oh, of course the drug is wildly addictive and makes you massively high.
That does sound like a fairly dangerous way to market such a drug. Not because the drug itself is going to do all that much harm it should be said. Pharmaceutically pure opiates don’t cause much harm to anyone at all. They’ll certainly cause constipation and going cold turkey off them isn’t much fun (about like a bad case of ‘flu) but the serious dangers of most heroin use, for example, are in the fact that it’s not pharmaceutically pure and that the dosage is unknown. No, the danger is that the Feds in one of their various guises will note that some or more of the suppoosedly medical sales of this drug are leaking into the recreational market.
And that’s the point at which, given that there are other forms of this drug already available on the market, that said Feds might take action to remove this particular formulation from it.
You're certainly correct, and that's what technicals are all about. The bottom line is the uncertainty that will weigh on the stock. They may mention the medicare fraud in their ER call, but at best they would tell the street they're doing a company wide internal investigation. That doesn't alleviate any fears. And shorts and other sellers will be all over this, exacerbated by the lack of any strong bids underneath. So I certainly don't see their ER report as a catalyst.
INSY "Top prescriber of Insys drug probed for fraud, MLive says
Dr. Gavin Awerbuch, a neurologist that was paid $6.9M from 2009, through Feb. 6, 2014, for his prescriptions of Insys Therapeutics' cancer pain drug Subsys, was arraigned in federal court in Detroit on May 6 on charges of health care fraud, reported MLive yesterday. "Awerbuch is responsible for approximately 20.3% of the Subsys prescribed to Medicare beneficiaries nationwide during this time," the affidavit stated, according to the report. Shares of Insys were down more than 16% today." Reference Link
20% of the total drug prescibed nationwide....that's a big number.