I noticed extremely heavy selling in many of my holdings as we neared the close, then it got even heavier in the final minute.
Completely agree that it was game day.
Pretty much across my entire portfolio - especially in the last minute. Wanted to buy a couple things but could not move/type quickly enough...managed to buy some AROW for $25.17 at 3:58:56 then in the next minute they sold off another 10 cents. Like how long can you wait before hitting the buy button?
Sold my few shares of SEB earlier at 3:26 for $2740/share, then was kicking myself as it ticked $20 higher, then at the close they dumped it from $2769 to $2675 - it's been on a crazy roller coaster for the past week. Will see if I have the nerves to buy back in.
Also managed to sell my ITI flipping chunk of shares at 3:58 when it popped at the close...it's been range bound between $1.65 and $1.75/$1.80 for a bit now. Will keep playing it as long as it lets me.
Tried buying back my FORD at $1.31 but only filled 1021 shares.
Will keep nibbling SNTA - not concerned at all. Maybe $2.75 will be next buy.
I think there was a lot of quarter end window dressing taking place. Nothing else explains the heavy selling across the board the last couple minutes. I'm also guessing this is what has taken its toll on SNTA this past week. But again, not worried in the least - they have the funding to go through next year and there will certainly be important news well before end of 2015.
I believe what you describe is what took place - merely end of quarter window dressing. Seller wanted out as to not having to show it as a holding as of end of Q3, for whatever reason. He was going to get rid of all he had no matter what he got for it.
Today, we have now passed the date for when they would have had to sell for it not to show as of end of Q3 and market is taking shares back to where they were previously traded. I'm guessing that shares should go back to $2850 to $2900 level.
"And she has not said a word."
It may also be the case that at this time, she may be prevented from saying anything - for example if company was in negotiation for a partnership. Not saying that is the case, but there could be something going on behind the scenes that we do not know about at this time which prevents her from making a statement. That would explain a lot - wouldn't it?
"because if the shares go to $2 or $1 it will indicate that the drugs do not work "
That is what is stupid logic.
"It has been down every day since Anne and has lost over 30% of value."
And how about most other small caps and biotechs? Is Anne responsible for making their shares go down too?
"and a fist full of stock"
and again, he received no stock or options - read the filing, simple as that.
Did this COO of a private company that is 50 times bigger than Synta also tell you that if he was terminated for cause he likely got absolutely nothing more?
Why would someone be terminated after only 6 months on the job? It certainly was not because he was a star performer, now was it? It wasn't because the company was low on cash, or that they were paying him a huge salary which they couldn't afford, was it? More than likely, he did something very wrong, wasn't performing, or he misrepresented his credentials and was not as good as he and his references claimed. I think that you are simply looking for anything to be negative about - and that's fine. When shares are down, it's only natural to try and justify why you're looking at losses in your portfolio and that it's no fault of your own.
Where the shares are at the end of the year does not matter. Why do you care? Are you going to sell if they are close to $4.50? If not, again, why does it matter and why is $4.50 of any relevance whatsoever?
I'm long and I want the shares to go to $2 and $1 so I can buy much more. Do you think I care at all what the shares are trading at today? Tomorrow? Year end? Absolutely not.
"This information is according to proxy statements filed for the 2013 fiscal year."
Then you have a significant misunderstanding of what you read.
When you read something, do you investigate or simply take it at face value?
I have no idea what the cash salary was, so let's just take the $12k number you have.
The 25,000 shares that were worth $108k and now would be worth about $80k, however, he never received the shares. It was a restricted stock grant, with 50% transferring to him on 12/18/2015, and the other 50% on 12/18/2016 - as his employment was terminated prior to those dates, it would appear that he never received the shares, and no longer being an employee would not be entitled to them come December 2015 and December 2016.
The 150,000 stock options had a strike price of $4.34 - which would have no value today. However, the vesting schedule for the options was 25% on 12/18/2014 and then an additional 6.25% on the last day of each three month period thereafter. Once again, since he will not be employed by the company on those dates, he is not entitled to the options.
The $530,865 valuation on the stock options is incorrect/misleading anyhow as the options have no value below $4.34.
So, what's your problem?
You may want to reconsider where you are getting your information from, or make a greater effort to do some actual work in researching/validating the information before getting all worked up.
Explanation of Responses:
1. Represents a restricted stock grant subject to the Issuer's lapsing forfeiture right, which lapses as to 50% of the shares on each of December 18, 2015 and December 18, 2016, provided the Reporting Person remains employed by the Issuer on such date.
2. The option vests as to 25% of the shares on Decmeber 18, 2014 and as to an additional 6.25% of the shares on the last day of each successive three-month period thereafter.
He would buy directly through SNTA because it's real easy to have a single transaction at a fixed price as opposed to buying 1.5 million shares in the open market over an extended period and moving the price with your purchases.
I assure you, short-term technical games like a short squeeze is not his objective. More folks would just short at higher prices. What is going to drive the shares higher are results - we know thus far the results are good and very promising. As we get further down the road, more trial/study results will be coming in, and that is what is going to drive the shares higher and provide strong support going forward.
and you will have your shares at a 20% discount to what Bruce last paid in April.
The share price here is irrelevant - it's low. Maybe it goes lower - who cares? When the masses come back again, the shares will go higher - much higher. As news begins to flow, shares will go higher.
For months people were posting here how the shares weren't going higher because there wasn't a CEO installed. Now there is - you got what you want. Now, just because the shares didn't go up immediately, everything has changed? Maybe it was a small case of buy on the rumor, sell on the news? Now that there's a CEO, what's to look forward to?
If you have no patience, as others have said - sell and move along.
The entire market is weak currently - SNTA shares are not really performing much differently from most other small caps and biotechs at this time. Further, being the latter part of September, certainly end of quarter window dressing is taking place.
The investment thesis has not changed. You will not see Bruce/Caxton selling shares. If anything, we may see him soon hand over another $5 million to the company to get more shares at the current price level.
I'm staying away from all retailers...don't feel comfortable with any of them.
Just sticking with my core holdings, keeping close eye for bargains on everything on my radar.
Last week low float gang came to FORD and I unloaded - lucky I was watching my screen when it happened. Will begin to repurchase below $1.30 again.
I notice the same, however, this is a profitable company doing the reverse split to get shares high enough to meet exchange requirement for uplisting - not being done out of weakness.
Anyhow, I figure scaling in starting at .49 is a safe move and I won't miss out if it doesn't go lower first.
We played this one maybe 4 or 5 months ago after CEO bought shares and they were in low/mid-.40s. Company has performed since then, shares have gone to the high .50s. Company posted profits, is going to do reverse split and uplist the shares in the near future.
A couple days ago, company made press release that CEO was stepping down and markets took it the wrong way. If you read the press release, it is very good news - he did the job he was hired to do, company is now fixed, and he doesn't need to be CEO any longer. He's still on the board and is not selling any shares. Investors have not properly digested the info.
I began scaling in yesterday at .49 - will buy more if it goes lower. Shares should go back to high .50s and higher.