HI simp, I've seen that AH stuff too. At first I thought it was just a rookie trader who made a one-time mistake in not placing a limit on his buy order.
Now I believe it has to be intentional and is being done to increase interest in the stock. And what a coincidence, the Schottenfelds have disclosed a large position in Neptune. Their hedge fund is not a buy-and-hold company but more of a take-the-money-and-run approach. They would want the price up asap.
I like it! It's a GREAT way to get attention. A common negotiating approach is to open up with a clearly too-high price as it sets up an attitude that anything less is a deal. It seems to be working, people were glad to pay 1.18 today compared to $1 only a few weeks ago.
Thanks simp. For those who want to track this, use the canadianinsider site. I see the stock is way down today but this was the SECOND LARGEST insider buy last week for ALL Canadian stocks. $1 seems to me as a buying price instead of a selling price with patience being the key. I said I wouldn't buy any more stock as I have more $ in this than I want, but only $1? That's tempting.
There was an article today (Jan 14) by analyst Doug Loe of Euro Pacific Canada titled 'Canadian Stocks set to soar in 2016'. It was published in the Life Sciences Report. Neptune was one of four stocks recommended as a buy in the specialty pharma category. He gives Neptune a $4.50 (Canadian $ which is $3.13 US) price target in 2016. That still is about THREE times todays price so if his analytic abilities are even partially good, it will be a very nice year for Neptune shareholders. Check out the article for his reasoning. I won't give away the ending.
For folks new to Neptune, do a search on George Haywood activist investor and Neptune. You'll find out that he is an activist investor with a successful history of buying into companies, bringing in outstanding key management teams and BOD members, refocusing the company and letting it run. I was invested in Sarepta which turned into a 10 bagger and bought in here immediately after Mr Haywood took a stake in Neptune. Similar to Sarepta, pps went down significantly until the changes started to take effect. This remains my #1 investment for 2016. Good Luck to all.
Interesting and informative. I have the misfortune to be facing this manipulation with Neptune stock (NEPT). I have a major bet on it and the company is currently making a major turnaround. This is a thinly traded stock. EVERY day since April, whenever there is a gain during the day, there will be a last minute or last second trade for a penny under the opening bid or to prevent a gain. Example, the stock was up a penny today and in the very last second of trading, as in the actual last second of trading, someone bought 10 shares at $1.17, which was the opening price. A whole $17 prevented the stock from showing a gain. I have watched the NASDAQ trades for this stock for months and it happens EVERY SINGLE day. I almost gave up on the stock and took a major loss until I realized the pattern. Earlier in the year they briefly ran it up quickly where the last minute trade was positive, obviously took their profits when everyone else saw the momentum and bought in, and then started the long, slow downward spiral again.
With that stock, my plan is to hold and patiently wait until they start an upward move again or when the company completed its turnaround. But it drove me CRAZY watching that slow downward spiral. So I'm down $ on BDSI and NEPT right now but it appears patience is the key.
I had 20K, sold all but 5K a few months ago, but I really the prospects of this company for 2016. I'm planning to buy back to that level if the biotech selling craze ever stops. Insider buying is one of my key criteria, I like to see key executives put their own $ in the game and have usually been successful with that approach. When a CFO and CMO invests over $100K of their own money in their company stock, they are very serious about the company prospects. Corbus is at 1.65 today, its tempting me. I was burned pretty good on another stock recently and am a little more careful now.