Chants cleaned up big time. He doesn't need to put outing statement so he could cover his position. He could have gotten out squeaky clean when this was trading in the $20.00s. Instead he is still in the game because no doubt he sees more profit coming his way.
You are wrong. He knows there is more money to be made on his short position. He is telling you the truth. You are just too blind to see it. This company has a severe cash flow problem with a constant reduction is their revenue stream. Wait ti they announce their 10Q and don't say you were not warned.
His Citron funds were Short when the PPS was slightly below $200 PPS. He has cleaned up on this stock along with many others (LOL). Their revenues are declining and they do have a severe cash flow problem. They will have to sell off assets in order to survive. Problem is they won't get what they paid for them because the market can smell desperation when they see it.
He needed to raise cash. He anticipated all the redemptions coming in based on his disaster investing in this company. He can't and won't invest more money in this company. Too much to lose.
Yes and that is where he has admitted he screwed up on VRX. He admits he should have never invested more because that goes against his basic principle which he wrote in his investing strategy. Can you read man?
Where am I wrong? Did management recently lower guidance. After they lowered guidance did VRX have to renegotiate with their creditors again not only to pay more in fees but higher interest payments? Can they continue to raise the prices of their drugs...NO! Why is their 10Q going to be late? I deal with the facts not the emotion.
You see here is an example of a PUMPER. Management has recently lowered guidance and they will have to do it again. Their 10Q is going to be late so no one truly knows how to evaluate this company. But I can tell you this is no longer considered a growth stock.
I don't have to answer your question. Do you pay my bills?
But just this time just for you....TO MAKE MONEY and one can do it on both sides of the trade but have the facts on your side not the PUMPERS dreams.
When you get a clue you will have ONE. Like the stock at this price all you want but trade it and make some serious money. Just stick with the facts not with a dream. Their 10Q is going to be late. Management said so. They have guided revenues lower not too long ago and they will again. No one and I mean no one can evaluate this company until the release the 10Q and then hold a CC. Until then it is a traders wet dream.
Just look how well he has done on Valeant. He had to sell stock to raise enough capital to cover all the redemptions coming in to PSC.....a real mastermind!
Just like J C Penney real brain power there and I failed to mention Sears. Can't bring back disasters in the making. They can't even get their 10Q out on time.
VRX has lost it's luster and only has an intrinsic value of $47.00. Whatever you are smoking please pass it around the other longs need a hit. They are constantly guiding revenue lower and will do so again in the not too distant future.
He had to sell considering all the redemptions coming into his fund where investors want their money back before they lose it all.