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Post by wesnigon on Mar 19, 2021 19:55:59 GMT -5
Agree, how does this manipulation go unnoticed.
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Post by letitride on Mar 19, 2021 20:53:04 GMT -5
I dont believe its manipulation but rather execution. As I Studied the past couple of weeks moves it looks like the clearing of an existing positions to make room for a new one. This would explain the precipitous drop upon the new financing. More power to them and thanks for securing the 230 mill for my company.
Lets Go!
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Post by derekewhitlock on Mar 19, 2021 21:23:46 GMT -5
Help me understand how that explains the dip in SP upon the new financing. Seriously, I don’t get it. Thanks
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Post by radgray68 on Mar 19, 2021 21:51:41 GMT -5
Help me understand how that explains the dip in SP upon the new financing. Seriously, I don’t get it. Thanks I'll take a stab at it. Although we are way better off now, The Street will see this placement as one of two things, either a debt or dilution. By my math, if all shares are placed or purchased, this could result in about a 15% dilution. We know that management has every intention of buying them back and avoiding the dilution but it is a real possibility so the street will account for it, or in this case, discount the stock by that amount anyway. Also, once the market sells a stock down 15%, other momentum traders and computer algorithms kick in to exaggerate the move. Then, you take into consideration the fact that we do not currently make any real money. That, I'm sorry to say, leaves us still in the same position as before this recent rise, more vulnerable to manipulation than other stocks. The market doesn't always make sense. Markets can stay illogical longer than you can stay solvent. So, don't fight it, just trade with it. The saying goes: The trend is your friend. Hope this helps |
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Post by peppy on Mar 19, 2021 22:15:36 GMT -5
MNKD Nasdaq real time volume, 20,219,412 shares. MNKD Nasdaq summary volume, 13,335,513 Avg. Volume 5,996,236 Plenty of delivery this options expiry? real time share volume higher than summary? Avg volume will be going up. $3.72. +0.09 (+2.48%) At close: 4:00PM EDT after hours, 1,572,107 shares real time. www.nasdaq.com/market-activity/stocks/mnkd/after-hours |
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Post by letitride on Mar 20, 2021 3:06:13 GMT -5
Help me understand how that explains the dip in SP upon the new financing. Seriously, I don’t get it. Thanks Thinking about it like this, if I was one of the lenders and I was already in an overweight position in MNKD that I acquired back in the $2 range. I would unwind it for a profit as to be able to place those funds in a long term convertible bond for $5 shares plus interest that will likely be in the $25 plus range in 2025. I dont see shorts going deeper to try and drive the price down on the back of good financing news. Or long term retail investors being scared out of their positions at this point and time. Given the timing and scope of the selling this seems a likely way to let it ride to me. |
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Post by jlaw277 on Mar 20, 2021 8:50:29 GMT -5
Help me understand how that explains the dip in SP upon the new financing. Seriously, I don’t get it. Thanks Some of that downward pressure was from Note buyers possibly selling short to hedge some of the risk associated with the conversion price. Hopefully, MNKD was also taking action via call spreads to work it from the other side in terms of artificially increasing the conversion price so as to minimize future dilution. Here is some good info from one of the big law firm that often handles these offerings: What is a convertible note and who invests in them?A convertible note is a debt instrument that is convertible into shares of the issuer or another entity. They offer investors the downside protection of a debt instrument and the upside potential of an equity investment, but in return typically offer lower interest rates than straight debt instruments. Some investors may use convertible bonds as a component of an arbitrage opportunity, for example purchasing a convertible bond while taking a short position in the underlying common stock. This can have the effect of putting downward pressure on an issuer’s stock price at the time of a convertible note offering, particularly if the issuer does not execute a call spread transaction or stock repurchase in connection with the offering. Most convertible bond investors are large institutional investors and hedge funds. What other transactions regularly associated with convertible note offerings (such as call spread transactions or stock repurchases)?Convertible note offerings can be conducted on a stand‐alone basis, but there are associated transactions that many issuers engage in when they execute a convertible note offering. Many issuers use some or most of the proceeds of a convertible note offering to repurchase shares of common stock. These repurchases can be effected in negotiated transactions, on the open market or through an accelerated share repurchase program with an investment bank. Many issuers also enter into derivative transactions with an investment bank, often referred to as a “call option overlay” or “call spread transaction” to increase the effective conversion premium and reduce the effective dilution of the convertible note offering. These transactions may also help mitigate the downward pressure on an issuer’s stock price immediately after a convertible note offering that may result from short sales by investors purchasing convertible notes in the offering. The underwriters of the convertible note offering are generally the counterparties in an accelerated share repurchase program or a “call option overlay” or “call spread transaction,” but issuers may choose to use different investment banks as counterparties. www.gibsondunn.com/wp-content/uploads/2018/01/CAP-Convertible-Notes-Overview.pdf |
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Post by letitride on Mar 20, 2021 20:49:04 GMT -5
Very helpful info pertaining to an arbitrage this fully explains the recent price movements. Thanks
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Post by peppy on Mar 22, 2021 15:18:05 GMT -5
MNKD Nasdaq real time volume, 1,463,575 shares.
MNKD Nasdaq summary volume, 2,184,207 shares.
Avg. Volume 6,139,265
$3.67. -0.05 (-1.34%)
At close: 4:00PM EDT
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Post by straightly on Mar 23, 2021 11:11:15 GMT -5
MNKD Nasdaq real time volume, 1,463,575 shares. MNKD Nasdaq summary volume, 2,184,207 shares. Avg. Volume 6,139,265 $3.67. -0.05 (-1.34%) At close: 4:00PM EDT Market Manipulators hard at work again. The hammering down is so regular and purposeful and the grinding up was so strenuous and gradual. |
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Post by wyattdog on Mar 23, 2021 13:44:15 GMT -5
fwiw 3.38 was where mike c made his 3000 share purchase on march 5 for his spouse.
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Post by buyitonsale on Mar 23, 2021 14:13:48 GMT -5
As far as I know, April has not been removed from the calendar this year  I just bought 2K more at $3.37. |
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Post by peppy on Mar 23, 2021 15:36:16 GMT -5
MNKD Nasdaq real time volume, 3,377,500 shares.
MNKD Nasdaq summary volume, 4,794,091
Avg. Volume 6,040,186
$3.335. -0.335. (-9.13%)
At close: 4:00PM EDT
More shares delivered.
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Post by winner on Mar 24, 2021 4:13:27 GMT -5
Peppy. Please explain for the laymen ( me being one) what More shared delivered means. Is this a good thing or not? Tks in advance.
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Post by peppy on Mar 24, 2021 15:18:05 GMT -5
MNKD Nasdaq real time volume, 3,065,060 shares.
MNKD Nasdaq summary volume, 4,996,124
Avg. Volume 6,056,951
$3.21. -0.125. (-3.75%)
At close: 4:00PM EDT
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