Maybe we will get some short covering then. I got mine via email (I have paperless on everything). Haven't decided what I want to do. It says I need to respond by May 26th.
Your position in the above security is currently being held in your account at our firm. We will need to receive instructions from you only if you wish to participate in this offer. The terms and conditions of this offer are outlined on the above website. Please read carefully. As a holder of your securities, we will forward your instructions, should you choose to participate in this offer.
There is likely a mandated quiet period. I still maintain that traders bought and held thru last Friday, then dumped and shorted and will buy back at the discount rate. If it's like a dividend, all you have to do is be a holder of record on the required date. You do not have to hold until the dividend is paid.
Actually, no, I don't get how you can "buy a stock" to make money short. I have made money selling short on stocks that go down. Unless you are referring to "buy low" which, EYES is certainly low and ripe for buying.
I think that a few things could be going on to drop the price like it is, here are a couple thoughts
1. Lackluster volume = Buyers are waiting for the discounted shares in the offering to pick up more shares
2. Traders bought ahead of Friday to be holders of record, and then sold out Monday with plans to buy much cheaper at the offering price. They could even be shorting now.
The lower the price goes, the worse off we are IMO. The company will either raise much less money, or have to sell many more shares. Neither is a good deal for the long term share price. I don't know what I will do, if anything with the share offering. I would certainly feel better if management were able to give us some encouraging words about the company's future, but they may very well be in a mandated quite period.
Guaranteed that they are still selling them for much more than the cost of producing them. So, if they sell a lot more it will balance out. And the reduction is not on a very large percentage of their drug sales. Re-building good will is worth a lot.
VRX is in a sideways movement for now IMO. I agree that when the 10Q is filed, and after Papa can make some more improvements that we will see some positive price momentum.
The Street really seems to be going after VRX hard. I suppose somebody is trying to enhance profits on a short position. There will likely be a tremendous short squeeze here before too long IMO.
Niether management nor Bill WANT this price to fall much lower. That makes no sense. The P/E is $2 and the book value is over $17. All it will take for a surge is an announcement of a couple of business unit sell-offs.
ok, so all of the shares will be sold. But, the lower the price, the less money Second Sight is able to raise. This is certainly discouraging.
All of the extremely negative headlines crushed it the last few days. The shorts are probably starting to cover and book profits. I don't know if they can wring too much more out of this one. I just keep selling the weekly covered calls on the pops, I'm waiting for a bigger pop to sell some this week.
Agreed, and it's down to $4.08 now as I type on almost no volume
I've been using a pretty good strategy of selling weekly covered calls on the pops. The ones I sold for today will expire (leaving me with the full premium) and next pop, I'll sell next weeks calls. I don't care if they get called away, I'll buy it back on a dip.
It was a lousy report, but we pretty much expected that. I'm just going to sit on it (still). I'm having a great day thanks to my positions in AMZN, TWTR and VRX though. I think Valeant might just recover over time and do quite well (yeah, I do tend to like underdogs ie: EYES, TWTR, VRX)
It's after market. So, maybe we see Fireworks on Friday!
Second Sight Medical Products, Inc. (EYES), a developer, manufacturer and marketer of implantable visual prosthetics to provide some useful vision to blind patients, will release its fourth quarter and year end 2015 financial results on Thursday, March 3, 2016, after the close of the U.S. financial markets.