You can't even get the shares to short. I would short this each time over $40-$45 if I could. You just made the short thesis "bankrupt companies" where do those shares eventually end up?
This is a well orchestrated scam and the victims will be those left holding shares after he sells all of his once he is allowed to.
If you get any new bounce near or over $50 (like today's pre-market) take the money and run. This company will not be around in 2016 as soon a Shkreli sells his shares back under a buck. This company was about to wind down their operations before he bought the shares. They have nothing except losses and as soon as he is allowed to sell I bet he will. Today's news about him not lending out his shares to short sellers is probably the last bit of good news for KBIO. I actually thought shares would close closer to $40 on that news. From here on I think you see a bit more profit taking each day. Good Luck whatever you do....never let the market take your profit especially one like you have.
If that happened and the "right person" came in the stock would be at $18-$19 real fast. The same would happen if MM was fired at Yahoo.
This was a very smart move on his part for sure now he knows exactly how the stock will trade in any given situation for now whether there are shares available to short or not. He's a hedge fund manager not a CEO his thoughts are based around how he will make money. This company will be gone at some point in 2016 but he will have squeezed some serious profits out of it when he finally sells his shares. KBIO is not a turnaround story just a vehicle for Shkreli to use for awhile longer.
He is no fool he will make a killing it's the buyers of KBIO at some inflated price the day or days before he sells any or all of the shares that will be the fools. Like I say once a hedge fund manager always a hedge fund manager. What he is doing will also allow the execs (if they still own shares) to sell and make a killing that is why they handed him the Chairman and CEO positions so easily besides owning a majority of the shares.
For such a creepy slimy guy he is still a hedge fund guy and these guys can always figure out newer angles to make money and this news this morning is just the latest. Obviously the trading around KBIO is nothing but squeezing shorts and buying the dips on any positive news surrounding the small float. He will eventually sell his shares at some point and that's when they will plummet for good but for now this company that is losing lots of money will make traders money for awhile longer. This is the best Wall Street scam I have seen for quite awhile and if I was to pick a guy to orchestrate it Shkreli is the guy. He was smart to lend out the shares to short sellers it allowed him to see how the stock would act so now he has seen the ranges KBIO has traded and being a trader himself he now knows exactly when to sell his shares.
How can people here give a thumbs down to a Happy Thanksgiving wish? The thumbs-downers must be having TV dinners alone on Thursday.
One might think the loss may have been in the price already. With oil at these levels what would anyone expect a this point? Additional cost cutting and their delisting overseas will save some money. If this closes near flat that tells me the share price is still tracking oil for now and likely going forward.
Just offering him some advice obviously in your world all stocks go straight up especially after "one" good earning's report. If and when ANF is where I posted it might be in December I'll be looking forward to your response when I post something then. ANF is a very cheap stock price to earnings no? If short interest has dropped in the past week there will be no reason for this stock to go higher than where it is.
Depending on where you are short from I guess be patient. If you are still under water in late December use ANF as a tax loss to offset gains if you have them or you can carry some or all of the loss into 2016 tax year also (up to $3,000/yr) if your loss is larger split it between the two tax years. I say be patient because here is what I believe will happen over the next month....fund managers are still chasing performance to meet their numbers but I believe you will see some selling across the markets in early-md December some of it will be for tax loss and some will be because earnings are just decent not great. High P/E stocks will get hit and ANF has moved up $7-$8 since they reported I think you will see some consolidation back to the $22-$23 area if that happens. Now you cannot forget that ANF has a pretty big short interest so a lot of this recent move is probably short covering and you can see these rip your face off rallies like the last week and do not forget about holiday volumes which makes them easier to happen. Possibly short some more higher but you must wait 30 days to cover any of your position to capture the loss (wash rule). These are some of the things I might do if in your position.
The drop into the close should make tomorrow's trade interesting. I thought it would have held on to more of today's gains considering the way it acted on each market pullback the past few days. $18-$19 to $26-$27 in a few days mostly on short covering I would guess this will now create a battle between the buyers and sellers at this level I believe. This is an expensive stock.