We can't be stopped on the 1 yard line!

[daduke38]

I could re-cap the hundred reasons something good will eventually happen.  But just curious on a few opinions.
1. Did anyone really think they could drop this 25%?
2. Why the low volume?  If I had any dry powder, I would still be adding.  Are there no buyers or no sellers other than shorts.
Within a month or so none of this will matter I realize, but how have they been able to get it this low?
I am just baffled. I thought we might hit the 8's but bounce right back.  Right now $7's look possible.  
I am not bashing and haven't sold a share, but can any of you shed light on this current market action?  We are a blockbuster waiting to happen, IMO.
TIA

[zieg]

Agreed.
We all know there is manipulation at play here.  Take the lemons and make lemonade.  I'm in a buying mood!! 3 to 5 years we will look back and laugh at the insanity that took place.   

[seanismorris]

This last leg down has nothing to do with MNKD, the market is entering a correction.  Mannkind is still considered high risk because to has no income so it's sell off is exaggerated.  

I picked up 1000 shares at $8.45, but I won't be buying more (1000-1500 shares) unless we get to $7.00.

There is just no reason to buy until the stock becomes ridiculously cheap.  

The market may not start recover until September.  Momentum and Technical traders are getting a sell signal...  

People still on the side lines (if this continues) may be able to buy into MNKD after the partnership announcement and still get a good price (10$) without the risk.

I sold my trading shares of MNKD at $10.25, so I'm slowly buying them back.

I'm not surprised at the 25% haircut from my long position.  If you invest in MNKD expect high volatility, and be in a position to take advantage of it...

The low volume, says there is nothing fundamentally wrong.

[daduke38]

Thanks!  I guess I should have saved some.  Bought my last in the low 9's, And yes I did expect volitility. LOL  Thanks for the insight.  It will get back, I am sure.

[mnholdem]

I chatted with my broker a few days ago. He told me he's been having a difficult time filling occassional large buy orders for MNKD. We chatted a bit and he gave me his opinion on the trading action, explaining to me that he thinks there is little current retail activity and that what we're seeing is largely activity by hedge funds that have both long and short positions. 

Because of the size of their long and short positions, fund managers can continually issue small stop orders at lower prices. Then, two managers will either work together (or a single manager can sell from a different fund) to sell at the stop levels they ordered earlier. If it were only one-for-one trading, their net effect would be zero minus commissions, a small price to pay to keep a lid on the pps.

If the smaller orders successfully move pps to where they want, they'll place a much larger order. Most of the small orders are their attempts to manipulate.  I say "attempt" because if there is a strong retail demand their efforts are not as effective. 

Without any news (good or bad) or events that will bring on a flood of retail buyers/sellers, the low volume consists largely of this hedge fund manipulation. That's my broker's opinion, anyway. He called it "churning" and said some of these fund managers will frequent message boards to either bash or pump & dump, depending on the direction they're trying to manipulate.

Market manipulation is prohibited in the United States under Section 9(a)(2)[1] of the Securities Exchange Act of 1934, but it's difficult to catch the culprits. That's my broker's opinion, for what it's worth.

[suebeeee1]

I continue to add to my position using options only as most of my dry powder has also been used up...lol. And, while I'm selling short at a strike price of 5 for Jan 2016, it is only to offset costs on my call purchases. I have never seriously entertained that they would be exercised. Never have I been so invested in so volatile a stock!