One that I know of was SLXP. They were caught channel stuffing and the stock went from 170 to 85 and back to 170 in short order.
Consider yourself lucky. Im down 12k on this #$%$ and I only bought SKX a few days ago.
That's great and I wish you luck but just remember there are opportunity costs involved in staying with a losing position, not to mention capital losses. I think we are in an awful Macro environment here and Bio in general is going to keep taking it on the chin. Add to that the issue that MNK is having, all adds up to continued downside risk outweighing any upside. Remember, sitting in cash on the sidelines is a position.
The theory behind my statement is ACTHAR gel and the government led lynchmob that are coming after high priced drugs. Right or wrong it's happening and we are in the early innings. I guarantee you MNK rues the day that they acquired QCOR.
Sure they'll sell but the days of a buyout north of 150 or for that matter anywhere in the low 100's are gone for now. Look at the price action in the stock. Something very wrong here. Typical Wall Street shenanigans. The big smart money knows the story has changed here and U.S. Retail guys are going to cling to the "but it's undervalued " pounding fists on the table. It's going lower, it may have a bounce or two, but it is going lower. The smartest thing to do unless you truly are not using risk capital here is to get out on any bounce.
I agree with you about Hillary. I don't like her either. But that does not matter. She has pointed a negative spotlight on the industry. As I said, I love QCOR/MNK, heck I love ACTHAR Gel, but this has the real possibility to get very ugly. Think about it. ACTHAR gel was acquired for pennies compared to what has been made off of it. This is the epitome of the type of drug company price gouging that the lynch mob is after. QCOR paid a couple hundred thousand for ACTHAR. Those boys were freakin geniuses. We all loved it while it lasted, but I'm telling you it's gonna be over. I'm as big a capitalist as you will find. I'm not against profits. Trust me. I'm only connecting the dots here. I am neither long or short MNK. I Was a loyal QCOR shareholder and held through the merger. I finally sold everything right before it went under 100. I had north of 5,000 shares. Not as much as some of you boys, but not peanuts either. Ask yourselves WHAT THE HELL ARE WE DOING IN THE 70's??!!!
This goes lower, possibly A LOT LOWER. I just want you all to think about the risk here.
With Acthar selling for $29,000/vile, MNK will be a target for the Hillary led lynch mob. The real problem here is that as we are all aware of, ACTHAR was developed in the 50's and was cheap. QCOR bought the rights and jacked up the price. They basically did the same thing Martin "ASSHAT" Shakrelli or whatever the #$%$ his name is did with the drug that he bought. I'm not saying it's right or wrong, hell, I made a kings ransom off of QCOR/MNK. I'm merely warning all of you that this is likely FAR from over. The good news is that MNK has some other irons in the fire. The bad news is the Super Drug that they paid dearly for is at risk of having a huge price cut. In the end, MNK is a great company but there is potential downside here into the 50's.
As much as I have made off of this company and loved it in the past, she is dead money for the foreseeable future IMHO.
I'm not so sure. The selling volume is not that high. We've had much bigger volume sellofs in the past. At the same time, there is not a lot of buy volume either. There is probably another washout down day that takes us to the recent low and up from there. Although I'd rather see us get back above 104 without going lower first and build a nice base from there.