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Post by akemp3000 on Dec 11, 2017 20:05:53 GMT -5
Yes and all truth to be known we are trading at .60 cents. Did most people forget that. Most people know better. Focusing on the past is like driving a car using the rear-view mirror...not real useful.
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Post by mnkdfann on Dec 11, 2017 21:01:48 GMT -5
Yes and all truth to be known we are trading at .60 cents. Did most people forget that. Most people know better. Focusing on the past is like driving a car using the rear-view mirror...not real useful. "Those who cannot remember the past are condemned to repeat it."
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Post by lakers on Dec 13, 2017 2:45:21 GMT -5
MannKind Added to Nasdaq Biotech Index By Helen Floersh Monday, December 11, 2017 The stock of MannKind Corp. – in danger of being delisted a year ago – got something of a vote of confidence Monday when it was announced the stock will be added to the Nasdaq Biotechnology Index effective Dec. 18. Being added to an index typically boosts share prices because some funds automatically buy all stocks on an index. However, investors in MannKind seemed unimpressed as the company’s stock closed down Monday. “We are pleased to see that the successful execution of our commercial strategy for Afrezza and our efforts to recapitalize the company have been recognized with our addition to the NASDAQ Biotechnology Index,” Steven Binder, MannKind’s chief financial officer, said in an emailed statement. MannKind, the maker of inhalable insulin Afrezza, is one of 54 newcomers to the index, which is comprised of securities of pharmaceutical and biotechnology companies. To qualify, the company must have a market capitalization of at least $200 million and an average daily trading volume of at least 100,000 shares, according to Nasdaq. The roster of securities listed on the index is updated every December. The development is a significant improvement over MannKind’s position this time last fall, when the Westlake Village biotech was at risk of being delisted from the exchange. After its stock price hovered below $1 a share for months, the company in February initiated a 1-for-5 reverse stock split that brought its share price to $2 and reduced the number of outstanding shares from 700 million to 140 million. Inclusion in the index is an indicator of a company’s present performance rather than its outlook, Spencer Osborne, a Seeking Alpha blogger and MannKind critic, told the Business Journal. However, it does give a security additional exposure and funnels shares into index funds, which tend to support share prices. “(That) can serve to drive the equity price up or limit the downside pressure while the required shares are acquired,” Osborne said. Those dynamics tend to soften with time, he added. However, MannKind (MKND) stock fell 13 cents, or about 4 percent, on Monday to close at $3.04 on the Nasdaq. sfvbj.com/news/2017/dec/11/mannkind-added-nasdaq-biotech-index/
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Post by casualinvestor on Dec 15, 2017 11:19:15 GMT -5
I'm trying to get a handle on how many shares will be bought by index funds when MNKD gets back on this index. I'm still under the impression that shares supply is tight, but there is very low demand. I think I have a ballpark # of 1.5M shares that the IBB and BIB will absorb. 1.5M shares would not be that that hard for shorts to supply, given that cost-to-borrow is still low. But I'm not sure how much money is in other funds that track the NBI. Anyone have any thoughts or estimates? And while I was researching/writing this, MNKD dipped down to 2.75 and I bought shares with rest of the money I had waiting. Moot for me anyway
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Post by brotherm1 on Dec 15, 2017 14:29:51 GMT -5
I'm trying to get a handle on how many shares will be bought by index funds when MNKD gets back on this index. I'm still under the impression that shares supply is tight, but there is very low demand. I think I have a ballpark # of 1.5M shares that the IBB and BIB will absorb. 1.5M shares would not be that that hard for shorts to supply, given that cost-to-borrow is still low. But I'm not sure how much money is in other funds that track the NBI. Anyone have any thoughts or estimates? And while I was researching/writing this, MNKD dipped down to 2.75 and I bought shares with rest of the money I had waiting. Moot for me anyway Would the shares for the funds be purchased today? Just prior to and after the close?
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Post by sellhighdrinklow on Dec 15, 2017 16:01:33 GMT -5
2,016,073 added at $2.81 at close of day.
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Post by liane on Dec 15, 2017 16:34:34 GMT -5
1000 added at $2.78 in my Roth at end of day.
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Post by savzak on Dec 15, 2017 17:06:52 GMT -5
1000 added at $2.78 in my Roth at end of day. 500 for me today at 2.84.
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Post by nadathing on Dec 15, 2017 18:16:17 GMT -5
Pulled the trigger too early. 2000 shares yesterday at $3.
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Post by awesomo on Dec 15, 2017 18:27:00 GMT -5
I wonder if the downward pressure today was to get funds in at a lower price...
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Post by aceton3 on Dec 15, 2017 19:30:09 GMT -5
2,016,073 added at $2.81 at close of day. Forgive me if this seems silly, but does it seem strange to anyone else that the funds found 2+ million shares all offered at $2.81 exactly at the close?
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Post by liane on Dec 15, 2017 19:41:34 GMT -5
I suspect that the market makers have been acquiring the shares for the funds and that it is all recorded in a lump sum at the close.
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Post by savzak on Dec 22, 2017 9:42:01 GMT -5
1000 added at $2.78 in my Roth at end of day. 500 for me today at 2.84. Bought 500 more this morning at 2.61.
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