At the 2.00 range. Yes, I do hate this scam outfit, but I will not let a good swing trade go. I have swing traded this POS before for some nice gains, but for now a short position is definitely best. Ariad has fattened my account considerably thanks to my short position during the last month, but there's plenty more to be made on this pig before it's time to cover and swing trade. Cop a clue and climb on board for the big win!
Yes, indeed Ariad equals failure. Why invest in a company that has the stench of failure all over it? The company was founded in what, 1991? Since that time they done NOTHING of note except bring a dangerous, flawed drug to market, defrauded Merck by selling them on the hype of Ridaforolimus which was a complete and utter failure. Merck, which partnered with Ariad on this worthless compound which was roundly rejected by the FDA just announced last week that they are abandoning all plans to bring this drug to market in any way, shape or form and will simply eat the millions of dollars lost and move on. But they have a long memory and will never let Harvey Berger forget the snow job he did on them. Be careful of a huge backlog of ill will in the investment community. It will always come back to bite you.
In the years since Ariad was formed, many hundreds of other biotech companies have started up and already enjoyed fabulous success, rewarding their venture capitalists and the retail investor handsomely. Not Ariad. Except for the relatively brief run into the 20's based on the false hype about the tremendous (ha!) drug Iclusig, the company has remained moribund for years and years. Put in the vernacular: "this dog don't hunt".
No, this is a scam company that I truly hope disappears soon. Unless you have a very low average price you will lose money on this POS. Do a little DD and invest in a biotech that deserves your hard earned dollars.
And for those who thought that activist investor Alex Denner would be the savior of Ariad, think again. This guy couldn't save himself if he were drowning in 3 feet of water. When he finally makes a move he will have a huge fight with Harvey Berger in attempts to sell Ariad for around $5.00 per share. He will either succeed, making money for Sarissa Capital, or leave the board, causing this POS to plunge. Ariad longs can look forward to a world of pain, but you were warned.
Big institutions will be kicking this one to the curb following tomorrow's conference presentation. You had your chance to exit gracefully. Now this one takes a real market beating. Boo!
That's all you need to know. Ariad is starting to spit up blood ahead of tomorrow's presentation at the JPM Conference. Just another, "We believe Iclusig is" blah blah blah presentation. The market is sick of that. Major institutional investors need to see results, not hear platitudes. So far the only results for Ariad have been disastrous. Watch for Ariad to start hemorrhaging blood tomorrow. You were warned!
Remember to short ahead of Tuesday's conference presentation. The stock may be up Monday ahead of the presentation making a good entry point for a short position because it will come screaming down on Tuesday following the ho hum presentation. Easy money for those who have followed this company for a long time and know its losing patterns. Enjoy!
That's the way this stock has been pumped over the years while the company has done absolutely nothing. No, bringing one toxic drug to market does not count as anything. The company will not report much revenue with Iclusig and certainly will not enrich investors in the company because of it. What's it been, 20 years and this is all they have to show for all their labors? Please.
This is an inferior biotech company that is managed extremely poorly by the company's owner and CEO Harvey Berger. Why this guy hasn't been handed a lengthy prison sentence is a mystery to me. He has a history of lying to and defrauding investors in his company, yet has somehow escaped the hangman's noose, but not for long - not forever.
Countless biotech companies have either brought successful drugs to market or have merged into big pharma, thereby rewarding their investors, Not Ariad. Under the leadership (?) of Dr. Berger they continue to flounder while the rest of the biotech world runs circles around them.
Beware of going long or holding long ahead of next week's conference presentation. Ariad has a history of plunging after conference presentations and earnings reports. Look for Dr. Berger to simply mouth platitudes about the efficacy of his drug and aspirations for future use in front line indications. The market isn't fooled by this. The emperor has no clothes and Ariad will plunge following the presentation. This would be an excellent time to go short a couple thousand shares and make yourself some quick money off this pig wearing lipstick. You can thank me later.