Martin should have sold more shares during the bungled secondary offering while he had the chance. That would have been the perfect time as long as he was destroying shareholder value anyhow.
The 6% gain yesterday was certainly impressive Elbit. Unfortunately for shareholders, that 6% and more was given back this morning in the first 90 minutes. I guess it is easy come and easy go with this stock, but if you have been watching for the past 18 months, much more is going than coming.
There is a tremendous amount of stock for sale at $5.50 on Wednesday morning. Where are the buyers at this deeply discounted price?
He can't lose more than 100% of his 15 cent investment in those options. 15 cents will be a lot less than the shareholders are losing on a monthly basis.
Might it have been wiser to wait until CGEN falls to $4 or $3.75, and then buy the Dec 5 Calls? You might really make something on the next dead cat bounce that way. I think Martin may have backed himself into a corner with his new and realigned business strategy. Now he can't accept another deal like the Bayer deal after saying the company will wait for a larger deal. The company might have received one or more offers in the past 6 months, but Martin can't take the 5 million upfront payment like they received from Bayer, or the stock will only drop further.
October will be an ugly month in the market. The stock is currently at $5.05 with a week remaining in September. I realize $5 will not hold, but is $4 safe now? Martin could do his loyal flock a favor here, and retire ahead of schedule.
Brokers are restricting margin trading, and now Hillary is out running her mouth about the fat profits biotech companies are making. Surely Hillary couldn't have been talking about Compugen since this company has no revenues or profits. You might think CGEN actually turned a profit though by the way this stock got crushed today.
Are margin calls the reason the stock is down another 7% today? Shareholders are getting slaughtered waiting for this deal in the short term. It might be best for management to stop making promises they can't keep?
The company said they were making a deal in the short term. That reminds me of something Martin said on a recent conference call. If you believe us, then.......
How many brokers want to loan $$$$ on stock in a company with broken promises and no revenue? If you want to buy Martin's big dreams for saving humanity, then it is cash on the barrel. Brokers don't mind if you want to lose your own $$$$, but it becomes personal with them when you want to lose theirs.
Even if the stock fails to go up, you can take comfort knowing less mice will have breast cancer now.
This "great news" was met with immediate selling pressure. This company has lost whatever little bit of credibility they had left.
It looks like the new year is starting just like the old one. The stock is dropping. Why is the market not buying Martin's predictive capabilities?
The Ivy League graduates on this message board said a deal in the short term meant before the end of the year. The market doesn't believe it Elbit, otherwise the December $7.50 call options would be bringing more than a dime.