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Post by matt on Mar 12, 2020 15:12:31 GMT -5
I'm just concerned about them having to dilute again in order to not end up being delisted. Under ordinary circumstances I would agree with your concern, but these are not ordinary circumstances. NASDAQ has the rule to protect investors from garbage stocks, but with so many companies taking a severe hit over the past two weeks I cannot imagine that they will not change or loosen the rule somewhat. The exchange is owned by the member brokerages and brokers only make money when shares are trading. Delisting a lot of small companies doesn't make sense in these circumstances, and NASDAQ usually acts in their own enlightened best interest.
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Post by sportsrancho on Mar 12, 2020 15:38:16 GMT -5
Nadent.... laborer75 @rooksleanne “Given market conditions I don't think Mannkind can raise via equity or debt markets for some time. The Coronavirus thing I suspect will take at least 6 -12 weeks to peak and not much happens until the impact of that is known. Boeing tapped their entire $13.5B revolver which is highly unusual. Blackstone supposedly had their portfolio companies do the same thing which means they think banks will pull loans and LOCs. With what's going on, there will be a lot of credit downgrades and some believe 40% of the Russell 2000 companies are actually subprime. Subprime debt cannot be held by funds and is disposed off which in this environment means fire sale prices. CLOs anyone? Fed is going to pump $1T into the market to avoid liquidity from drying up and they may have to do more in the ensuing days”.
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Post by ktim on Mar 12, 2020 16:11:52 GMT -5
Quite often in discussing MNKD financial situation here I've listed exogenous events as a risk factor. And this demonstrates in spades. Nothing in the underlying MNKD story has changed, but the funding situation at this point becomes very unclear. As mentioned just this week, it will be quite ironic if we beat up on Mike for being cautious about markets and doing the Christmas massacre raise and end up wishing he'd done one this past Christmas, or as soon as the virus had started.
Actually it was wasting the money on TV adverts that I count against Mike.
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Post by falconquest on Mar 12, 2020 16:24:24 GMT -5
I may have to become a buyer again. You know what's really bad? If it goes much lower I may be able to repurchase shares at the same level I sold prior to the split. Would that make this trade a 5-bagger?!?!
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Post by mytakeonit on Mar 13, 2020 14:22:42 GMT -5
I should never have said that I bought at 82 cents ... it stopped going down at 84 cents to avoid my buy orders.
But, that's mytakeonit
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Post by boca1girl on Mar 13, 2020 21:39:24 GMT -5
I read an article about lack of liquidity to small companies that were short on cash because of Covid-19. I thought about MNKD missing loan covenants when I read it.
“Banks will do everything possible to avoid extending credit to troubled businesses – and right now, that's the great majority of businesses in America. To cite just one example, how enthusiastic are banks right now to allow shale oil companies to draw on their credit facilities? Not at all. And they will make it as difficult as possible to draw on those facilities.”
I hope this won’t be the case for MNKD when they go for the next Tranche.
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Post by ryster505 on Mar 15, 2020 12:51:33 GMT -5
United to the rescue??
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Post by babaoriley on Mar 15, 2020 13:06:19 GMT -5
Ktim
“Nothing in the underlying MNKD story has changed,”. Actually, you have hit the nail on the head.
Saw a TV commercial this morning for Charmin. Now that was a wasted ad!! Lol.
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Post by novafett on Mar 17, 2020 14:31:20 GMT -5
Back above $1.. but not by much. I'll take it
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Post by ktim on Mar 17, 2020 15:01:56 GMT -5
Close above $1. That's great. Hopefully we can hold above $1 going forward.
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Post by robbmo on Mar 17, 2020 15:04:55 GMT -5
Any close above $1 resets the clock! :-)
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Post by letitride on Mar 17, 2020 20:47:52 GMT -5
Any close above $2 means the clock is ticking. Lets Go!
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