Once again, another rally capped by massive sell orders (this time at $7.12).
Gee...I wonder who is doing all the selling today?
Get ready for the crater back under $7.
FOLD IS DEAD!
You know it is coming. How many new shares have these guys dumped already this month?
Relentless selling that helps the massive short position and destroys shareholder value.
Classic biotech junk run by an inept "celebrity" CEO with a huge comp. package.
FOLD stock will never see double digits again.
Another day of FOLD getting dumped with wave after wave of selling despite the BofA coverage.
Take a bow management, you have successfully destroyed this stock (and helped create the huge short position) and made a small fortune doing it.
FOLD never recovers with that "celebrity" CEO in charge and the street knows it.
because the inept, greedy management that helped create the massive short position that is destroying the stock are still in place and still doing damage year after year.
Replace the "celebrity" CEO (and his massive comp. package) and the shorts will begin to take notice and become fearful.
Until that happens, positive news, upgrades, buyout rumors, etc. will have no lasting effect on the stock.
so why should the shorts or anybody else?
Why keep issuing new shares at this level (resulting in huge dilution) when they have $170 million in cash and their first drug revenue only a few months away? Why not wait until the share price rebounds with good news and sell later thus minimizing shareholder dilution?
Why? Because this management is some of the absolute worst in the sector (and highest compensated) and do not care about shareholder value.
Just read the lawsuits already filed against them.
"Celebrity" CEO et al need to be replaced before this stock will ever regain the confidence of the street.
Maybe Citron can help....
Delusional....CFO is giving presentation (I guess CEO can't be bothered to do presentations anymore). NOTHING will be said to cause the stock price to go up from here.
FOLD will most likely never see double digits again as any revenue gains will be more than offset by dilution and payouts to upper management.
Classic shareholder value destroying biotech.
BTW...Watch this junk give it all back into the close.
If the company stops selling shares into the open market and helping out the shorts, who knows.
Look at CPXX today...