This stock is a pump and dump.
Whatever revenue stream deals they can do within the next 1 months cannot replace the Queen el al stream that will expire next year.
Today confirmed what I had suspicion all along...that this stock is nothing but a pump and dump. It rose parabolically over 2 months on no news, now the big boys had reversed position to short this to the ground.
There is no news.
Bottom line is this company is down to only 1 drug candidate, and they do not have enough cash at present to see through clinical trials. With Exalgo going generic next year, they will need cash.
Haven't we seen a run-up like this a month or so ago? On no news? Then come down hard after a few days? The 29% rise makes everyone excited, but it is only $0.25 compared to that 72% drop of $5.
With the holiday shortened week, and this latest short smash, 4 more days to ex-div might mean another leg down ($0.95 loss in sp on Dec. 3).
I added some today....might add more on ex-div because it might hit $39-40.
There is no K-1 unless you are buying Seadrill Partners (which is the MLP). SDRL is an equity, not an MLP.
I kind of had another question....if Seadrill Partners is an MLP, and they drill in the ocean, how does a K-1 fit in??? There is no state that the rig resides on, it's on the ocean....never understood how that works.
Aubollocks is correct. It's not the 3 cents earnings miss, there was a huge put position since 1 month ago, and that hedge fund wants to close that position before he needs to roll it over until next month. Option monster had detected that since October. They need to close that put position with a profit, so the price had to be smashed down.
Where you get 7%? I didn't but it high like you.
It is parabolic....its is now over 4 standard deviations over the average uptrend price. 2 standard deviations are overbought, 4 is extremely overbought.
If you don't agree with me, watch next week for a pullback.
I really have no idea why this is going up as fast as it is....with the end of its major Queen et al. royalty stream next year. Maybe someone knows something we don't.
Very heavy volume too within the past 2 weeks. Option Monster detected large call interest upcoming next few months too....so I have no idea what is going on. But alas, grats if you were long....I was long but sold back in September, thinking I don't want to hold a company that is not viable within 2 years.
Anyone ever owned Tesla at the lows? This is the same feeling I am getting now...I like all the good news, but SIMO is going too high too fast.
Looks like new target prices are in the $20 range....just wondering if it will get there without some major backing and filling....can be a rough ride.
It's looking scary now as a long....it is parabolic looking on the chart.
I don't know how long this thing will rocket up until it eventually pops. I am now up close to 40% in less than 1 month....that is parabolic. Gonna set my stop losses close now.
Splits will not take place until they are forced to do so by the SEC via the threat of de-listing.
As noted, this company did just that by delaying and delaying until 1-2 months before de-listing deadline. They have up to 1 year to delay once its share price drops below $1 for over several weeks.
Like someone just said, reverse splits doesn't happen until dilution. Why? Because reverse split only save the company from de-listing, it doesn't provide the necessary funds to run the company. So far the only way to capital for this company is to sell shares, they have no been able to borrow funds, and with Exalgo running out of patent protection soon, they will be even more desperate for money.....so dilution is absolutely guaranteed.
Really, with the S&P hitting up 13 points today, almost all stocks are green except for this POS.....what will happen to it on a market down day?
its not long haters, is this company' haters....2 failed showcase drugs...that's 2 strikes...you waiting for the 3rd strike, Z944? It will be at least 1 year before he can get up to bat. After that strike out and its BK time.
In the meanwhile, to keep this company and the staff's 6 digit salaries afloat, you will suffer more dilutions and reverse splits.
ctbradley....are you in this market to make money or to lose money? How has this stock done for you over the past year or so? Are you so doggedly stubborn still that you cannot move on to greener pastures, or have you dug yourself too deeply already and hoping to dump your shares to some other moron after a pop?
I'm doing just fine. up over 25%, so I dunno where you get your fact bash from arbitrager_z.
Just sitting pretty as this thing zoom higher, while collecting the 5% dividend. Oh lemme guess, you were probably long Qualcomm, and short Simo.
Well, burns doesn't it when Samsung will choose to go it alone with Simo, than relying on Qualcomm. Samsung is the largest seller of phones in Asia compared to Apple. More upside to come. You should had loaded up on the bear raid the day before earnings report.
I think I have to recant what I said. The whole market looks like it will melt up until years end. The past few days look like buying frenzy. I supposed it might not be a bad idea to start a position here at the $18.....doesn't hurt. It still falls what I believe to be a range between $17-$19.
I thought 1770 S&P was toppy, surprised it crashed through 1780. 1800 easy by December. Lots of buying into high div names, so I guess starting a position now might not hurt.
I would wait if I were you. 16 M shares need time to be digested. It will take 4-6 months for the price to recover. I would not be surprised if this will come down to $16-17 range.
Unless you had already bought low, I would not add more now. As for those who chased at the $19 range, my condolences, but that's how MLPs get financed...through SO. It is part of the sacrifice for the high yield and little to no capital gains growth....that is if you buy during panics.
GL in working for Zalicus, you gonna need it because they might go bankrupt....then you have to look for another job.