Since then JCP has a wow earning beat. Truly JCP shall not be traded under $10 today,
4 hours ago - During the third quarter, activist investor ValueAct Capital said its fund plunged 8.3%, ... as a saleable asset, with Valeant (VRX) or Shire (SHPG) seen as the most obvious buyers. ... Canaccord reiterated its Buy rating and $170 price target on Valeant shares
I maybe wrong in the end or I maybe right after doing all of my homework. Bill Ackman, Steve Mandel, John Paulson and Julian Robertson all have huge holdings on VRX. None of them has announced to sell any of their holding, but in fact a few of them are adding more after the news. I would like to believe these billionaires know what they are doing with their money instead of following Citron who has a lot of bad reputations with 4 arrests due to slandering companies in the last 5 years. I don't believe in pumping stocks, but I do like to learn the fair value of VRX. When all the big boys are holding on to their expensive shares and adding more and more the past months, that tells me the share must be undervalued according to them.
due to his lower cost. He still owns all of his VRX investment.
Steve Mandel establish his first stake with VRX: The stake was established in Q2 2014 at prices between $144 and $185.
VRX Valeant Pharmaceuticals International Inc 2015-09-30 Add 1.62% $158.08 - $262.52
($233.19) $ 89.42 -62% Add 40.52% 7,461,780
Reason why is because Ackman's average cost is $177 on October 21st. Furthermore, the average cost of John Paulson is at $221. VRX came down hard from $362 after the short attack by Citron. Originally the government was trying to fine NVS for 1.3 billion dollars and ended up only fining NVS over 300 million dollars. NVS stock did not fall as hard as VRX because Citron did not pick up the attack on NVS. VRX and NVS are not the only two companies that did the gauging practice on the drugs. Americans have been complaining the prices they paid for their drugs like forever. The huge cost of R&D plus the expensive costs of submitting to FDA back and forth to get approved are the reasons why the drugs are expensive. If FDA relaxes the expectations and rules will save the drug companies a lot of money, however Americans are known by the love of suing malpractice. The judges love giving hundreds of million dollars to patients when there is any slight slip by the drug companies. No one is in business to lose money. The insurance cost by all these drug companies are huge expense to them besides the R&D.
No wonder Bill Ackman has been buying aggressively lately. His official average cost is $177 as of Oct. 21st, 2015 which is just last month. VRX's stock price today is way below Ackman's cost which he sees a great opportunity to keep adding now.
John Paulson increased his position to 9M shares (7.3%) at a cost average of $221/share
Ackman’s average purchase price of $177 (the average price of the stock in the first quarter, when he purchased), he has a 32% loss on the holding based on its closing price of $118.32. The stock ended the day down 19.4%, off of its one-year high of $263.81.
Total of $2,828,700.00. Near 3 million dollars.
based on just 3 transactions that I saw not to say they were the only 3 large blocks that Ackman purchased, his buying prices were $90.35, $90.50 and $88.55.
Many drug companies have done the similar practices like VRX. It is not an uncommon practice in the industry just as NVS said today.
Not taking any side nor trying to pump stock. However, based on all the bad news, the stock still values about $180 according to Yahoo while I have the conservative near term target of $120!
Warren Buffett made bad decisions off and on. He is the richest man in the world. I will say Ackman is still a lot smarter than many of us on this board.
I did the homework and I have said many times that VRX valued no less than $120 even with all the news priced in and it has no business to be traded under $100. Sometimes you just have to be strong and stick with the work you have done. Don't let the HFT or day traders to #$%$ your decisions and your research.
All were the purchases by Bill Ackman taking advantage of the cheap shares from the weak hand. Ackman’s Pershing Square Boosts Stake in Valeant to 9.9%
I missed the $70, but got bullish and jumped in under $74. I really see this stock a no less $100 dollars value. I apologized that I got truly confused by today's action. I guess it was just a profit taking.
My best sincere wish for all the faithful courageous longs.
Someone bought 21,000 shares during the day today between $90.35 to $90.50 that I truly saw the trades on Level II. What I don't understand is the action of the drop afterwards. Now it is surging back up to the guy's cost after hour.