This week Congress got something done. Our country's legislators reached across the aisle and passed a landmark bill that will increase the federal funding of Alzheimer's research by $350 million next year.
This increase will bring Alzheimer's funding close to the $1 billion mark, and that's a great step forward. It's also a critical one. Cancer has $5-6 billion in federal funding for research to find a cure. AIDS/HIV has almost $3 billion. Heart disease research is funded at $2 billion. For us to really find a cure for Alzheimer's, we need to reach those levels. We need to devote at least $2 billion annually to develop disease-modifying drugs or find a cure by 2025.
It's an interesting play. Did they spin this off so that something would be left of the whole company?
BKS is now a non-profitable, large footprint, brick and mortar showroom for Amazon. Come on by, browse the books, have some coffee, and buy the books later on Amazon for less.
The implosion of BKS should pull BNED down with it, justified or not. Bad time to be long.
After that, there are other lows to be taken out at 8.36, 8.08 and 7.17. After the stock takes out its 5 year low of 5.43 there will be some capitulation selling. Institutions will dump under 5.
The company has only $13.4 million in cash -- down from $32 million a year ago.