Company lost over 200 million dollar market cap = money in shorts pocket
Who are these morons who keep selling? I thought it will recover after company PR but it cratered even more.
This is unprecedented.
They will aggressively start buying back stock.
There is nothing more profitable in this world than buying your own highly profitable business that at 25% of book value. Its like buying $1 for 25 cents. It is 300% return.
There is no way XIN can even dream about earning those returns no matter how bullish the China real estate market gets.
I added to my existing position on Jan 30 (bought at much higher price) and it is nothing but frustrating.
At the time I discovered this stock, I thought I was getting bargain of the decade.
This is got to be the most undervalued Biotech stock in the universe (Given the pipeline and balance sheet) but it just does not get traction beyond a couple of days.
Having said that the management of this company nothing to be desired (based on how cheaply they made Kadcyla deal)
Just a change in management will bolt this stock by 20% IMO
I understand. However, when an ordinary article causes you to lose 12% of your market cap or ~150 million dollars you ought to come out and defend yourself.
Since there has been so much speculation and manipulation of OCN business and stock, this is NOT a normal course of business.
Where are these people going to go?
Contrary to what Compass point said I think OCN margins will hold up. I think they said they were pretty much done with major legal expenses.
Everyday this stock gets manipulated to down side for shorts to cover at cheap prices.
What happened to epic short squeeze?
Longs in this stock are such a chickens it is pathetic.
Bid/ask all over the place
Huge blocks bought on ask, small blocks sold on bid
Chart shows huge green bars followed by small blocks with price dropping sharply
Goes from 9.9 to 10.35 back to 9.95 in a flash
overall Volume huge
I don't how to interpret this but it is very stange
evey time it moves over 10.30, small blocks appear out of nowhere on ask
the strange thing is that they manage to drop the price in flash10.3 - 9.98
what is going on?