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Post by art606a on Dec 13, 2016 12:39:20 GMT -5
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Post by cgiscgis on Dec 13, 2016 12:40:34 GMT -5
What do you expect!? Management have been over delivering, haven't they?
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Post by MnkdWASmyRtrmntPlan on Dec 13, 2016 12:48:54 GMT -5
I thought that wasn't supposed to happen until Feb or March.
That article is a little confusing. It first lists
Adds and drops from the Nasdaq Biotech Index
* 21 names are set to be added to the list, effective at the open on Monday
Then, it lists
* 37 stocks are to be removed (... MNKD ...)
It doesn't explicitly say when those 37 stocks will be removed. If it were meant to also be Monday, then technically, the clause "effective at the open on Monday" should have been at the end of the "Adds and drops ..." sentence.
The difference is either "Sloppiness in reporting" or "Deception in reporting". With Seeking Alpha, it could be either or both.
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Post by matt on Dec 13, 2016 12:51:04 GMT -5
There is no immediate effect, but there will be a sell-off heading into the close on Friday. Since index funds are required to hold the exact basket of securities that comprise the index, they will sell out of MNKD and the other names being dropped from the list and will buy the names being added. Predictable as this is, many times you don't see the price action until the last 30 minutes of trading, and some funds will wait until the AH session or the open on Monday to rebalance.
Other than the one time impact of exiting the index, and somewhat less trading volume going forward, participation in the index doesn't have much of a long-term effect either positive or negative.
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Post by art606a on Dec 13, 2016 13:25:46 GMT -5
There is no immediate effect, but there will be a sell-off heading into the close on Friday. Since index funds are required to hold the exact basket of securities that comprise the index, they will sell out of MNKD and the other names being dropped from the list and will buy the names being added. Predictable as this is, many times you don't see the price action until the last 30 minutes of trading, and some funds will wait until the AH session or the open on Monday to rebalance. Other than the one time impact of exiting the index, and somewhat less trading volume going forward, participation in the index doesn't have much of a long-term effect either positive or negative. Any idea how many shares are held by index funds? NASDAQ lists around 100 million held by institutions but doesn't make it clear what percent are index fund holdings. |
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Post by Deleted on Dec 13, 2016 13:37:21 GMT -5
I just sold my shares for a loss. I will wait to see how things shake out next week.
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Post by sophie on Dec 13, 2016 13:41:48 GMT -5
Is there any way to confirm that this is accurate?
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Post by mcgovernk on Dec 13, 2016 13:43:07 GMT -5
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Post by art606a on Dec 13, 2016 13:47:37 GMT -5
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Post by MnkdWASmyRtrmntPlan on Dec 13, 2016 14:01:48 GMT -5
Thanks, Art. SP doesn't seem to be affected - holding still at .61.
But, this is a surprise to me. Matt indicated in the cc that this should not be a problem.
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Post by promann on Dec 13, 2016 14:03:29 GMT -5
It's just noise people anyways good news and MNKD goes down bad news it goes up. I just bought more that's all I can say
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Post by matt on Dec 13, 2016 14:06:14 GMT -5
Any idea how many shares are held by index funds? NASDAQ lists around 100 million held by institutions but doesn't make it clear what percent are index fund holdings. Institutional reporting is governed by the Investment Act of 1940, and the reporting rules are a little messy. Suffice it to say that reports for large entities (Goldman Sachs, Fidelity, etc.) are allowed to combine many accounts under their umbrella; some are specialty funds, some are index funds, and some are retail holdings in street name. That information is not publicly available and only the reporting entity knows the breakdown. One thing I forgot to mention is short interest. Index funds must hold the index in the exact percentages required, but they can also loan out shares to make a little extra from short sellers. When the funds sell out of the shares there will be fewer shares available for lending, at least for a few days, as the market equalizes. Normally that is not a big deal but with the MNKD short interest it will be something to watch. Of course the buyer of those shares might scoop them up and offer them for lending, or the shorts might use the price downturn as an opportunity to cover. We will have to wait and see how it balances out. |
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Post by careful2invest on Dec 13, 2016 14:08:40 GMT -5
It is definitely time that MNKD communicates with their investors. Last we heard from Matt, he said that he was not concerned with the issue of being delisted from Nasdaq. Maybe that is true and he has a plan that makes any type of delisting a non issue. BUT, here we are again, in the dark! I realize that delisting does not translate into inevitable doom, and you can sugar coat it however you choose to, But it is still NOT GOOD news! Matt, Mike, its time!! Give us something... |
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Post by akemp3000 on Dec 13, 2016 14:14:18 GMT -5
Zacks increases MNKD rating to strong buy. NASDAQ says MNKD is being removed from the annual biotech index, not from the NASDAQ listing. Video clips promoting Afrezza are now showing up on many TV health segments in major cities across America. Google analytics shows a significant spike up in the word search for Afrezza. We're at the end of the year tax sell-off of stocks. Mike C tells blogger critique you're going to thank me soon enough. It appears to be a really good time to place more bets whichever your perspective. GL
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Post by slugworth008 on Dec 13, 2016 14:19:25 GMT -5
Thanks, Art. SP doesn't seem to be affected - holding still at .61. But, this is a surprise to me. Matt indicated in the cc that this should not be a problem. That IS exactly what was indicated, however as akemp mentions - we are being removed from the bio index not the nasdaq. I'm thinking this is a precursor to actually being delisted - but that's just a guess on my part. Either way it's just another brutal day being a MNKD long. |
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