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Post by Deleted on Mar 2, 2015 11:01:04 GMT -5
Until sales and profits start rolling in, the shorts (85 million shares) will have control of MNKD. Profits may take 6 -12 months or more to materialize so the shorts may get MNKD to 4 before they are through with us. So, for better or worse, I'm out at $6.52 as of this morning (except for some Jan 2016 Calls). Hoping I can re-enter later and, if not, so be it. At least in the interim I won't continue to be ripped apart by the unscrupulous shorts and the Silent Sam treatment by MNKD management. The snail pace product introduction by SNY is no bargain either. Goombye.
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Post by bospenc on Mar 2, 2015 11:33:12 GMT -5
That was my plan (to hold no matter what) but I sold the bulk of my shares (58k) on Thursday @ $6.79. I did keep 5k shares and have no plans of ever selling them. I will buy back the shares I sold (slowly and over time) but I need to see a bottom form first. I have no problem with you selling your shares obviously (it's your money...) but I am curious as to why you sold? What specifically happened Thursday? I presume you won't mind sharing as you did share the above information...
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Post by bospenc on Mar 2, 2015 11:34:46 GMT -5
When you have as many shares as I did and you watch the PPS drops from $7.50 to $6.79 (and for no good reason) every penny hurts. In less than two weeks, I went from having over $100k in profits to less than $40k. I just wasn't about to give it all back.
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Post by jpg on Mar 2, 2015 19:15:28 GMT -5
When you have as many shares as I did and you watch the PPS drops from $7.50 to $6.79 (and for no good reason) every penny hurts. In less than two weeks, I went from having over $100k in profits to less than $40k. I just wasn't about to give it all back. Thank you. The problem with 'protecting profits' is that you have to pay tax on these profits (and obviously small transaction fees) while hoping to get back in (assuming that is what you want to do) at a significantly lower price to offset the expenses and risk of missing upside. You possibly had to many shares to maintain a detached and non emotional comfort level?
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Post by babaoriley on Mar 2, 2015 23:04:14 GMT -5
"You possibly had to many shares to maintain a detached and non emotional comfort level?"
LOL, jpg, if you are able to maintain a detached and non emotional comfort level, then you are pretty much alone among the longs on this board!!
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Post by jpg on Mar 3, 2015 2:19:51 GMT -5
"You possibly had to many shares to maintain a detached and non emotional comfort level?" LOL, jpg, if you are able to maintain a detached and non emotional comfort level, then you are pretty much alone among the longs on this board!! Maybe I'm emotional but a 1 or 2 or 5 dollar price swing hasn't (maybe wrongly) caused me to sell any shares...
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Post by otherottawaguy on Mar 3, 2015 10:07:03 GMT -5
On these downward excursions, I go digging through the proverbial couch looking for more loose change to through at the wall. So far it has all stuck (except for those cursed options).
OOG
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Post by bradleysbest on Mar 3, 2015 10:10:54 GMT -5
Yes, I am holding no matter what! The tide will turn in our favor soon!
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Post by nugjuice on Mar 3, 2015 12:44:58 GMT -5
Hi, new on the forum but have been following the story for years. Work in finance - I'm invested, family invested, got some coworkers (and a few of their clients) invested.
Personally, what I'm telling everyone I've gotten to invest is that you HAVE to give this a year or two from here before you even think about selling. Obviously we all know the story and it's very compelling and moving. If you know the story, and believe in it, I think you have to wait and see if you were right. We won't know if we were all right for at least that amount of time.
Personally, I just picked up some August 7 call options today when it dipped under $6. I already have enough shares but didn't mind putting a little leverage into the trade.
If you're in this stock, you absolutely need to be comfortable with volatility. It's not outside the realm of possibility this thing keeps going down, especially since management is so tight-lipped, giving shorts the opportunity to be very vocal and make many assumptions in the absence of data/management commentary.
It's possible that this is "fast money" getting out of the stock. What happens is when 'penny' stocks like this start trending and moving big (like it was doing last month) is they start showing up on people's stock screens. Big movers, high short interest, % gainers, etc. Some speculative small-cap traders probably helped fuel the run from about $6-8 and now that the 'juice' is out of the trade and momentum has slowed, they're the first ones to sell.
One thing's for sure, with 15 million shares traded before 1:00 this is a broken chart in the short term. It's holding support at $6 for the time being, but don't be surprised if it breaks support. This is a long time-frame holding. You just have to make sure you don't over-allocate so that you can sleep well at night.
(Just realized my first post was a small book. Sorry about that)
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Post by liane on Mar 3, 2015 12:59:07 GMT -5
Welcome to the board nugjuice
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Post by bradleysbest on Mar 3, 2015 13:13:09 GMT -5
Nug this board appreciates a rationale explanation every now & then. Just watch out for those 2 thugs (Baba & Spiro) who may try & hijack this thread!
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Post by nugjuice on Mar 3, 2015 13:13:45 GMT -5
Welcome to the board nugjuice Thanks Glad to be here. I just want to say that I love the story. I have been incredibly touched by all the videos, blogs, and testimonials I've read. Not only do I want to make $$ (don't we all) but I would be really bummed from a humanitarian perspective if this product failed to gain traction and all the diabetics who love it so much had to go back to their old meds. Will it help/work for everyone? I don't know. But I do know that it's clearly benefited the lives of a majority of those who have tried it so far.
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Post by Chris-C on Mar 3, 2015 13:16:01 GMT -5
Add my welcome Nugjuice!
After reading your excellent post, I'm wondering if I should have kept my powder dry this morning and waited for the next salvo. I agree totally that this is a long term hold. At some point however, when positive news (of any kind) is announced, we should be able to solidify a bottom.
Ultimately, it will become apparent to the street that the Technosphere platform makes MNKD a much more promising (less risky) investment,and at that point all bets about bottoms could be off. Things we know for sure are that those holding convertible notes have an incentive to contain or drop the share price and any number of positive events/announcements loom in the mid to distant horizon.
As I always remind my kids, an investment is not a gain or a loss until it's sold. Now if I can just get my broker to offer the choice of hiding the red and green value numbers associated with my positions, it'll be easier to stay detached.
Chris C
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Post by nugjuice on Mar 3, 2015 13:17:17 GMT -5
Nug this board appreciates a rationale explanation every now & then. Just watch out for those 2 thugs (Baba & Spiro) who may try & hijack this thread! Thanks! I'm a Libra, so being objective and rational is embedded in my nature. I just figured I could chime in as someone with stock/trading experience. I just wanted to keep peoples' expectations in check. The management of the company has a lot to do with this. Like I said, most companies obsess over their stock price (since this is largely how their compensation is determined), and would be out with a comment this afternoon directly answering Goldman's commentary. Mannkind obviously won't do this. Their focus on the product and helping people, and not short term swings in the stock price, is extremely beneficial for them long term, but it can create some serious headaches in the meantime. Shorts know it's easy to pick a fight with someone who won't fight back.
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Post by nugjuice on Mar 3, 2015 13:24:31 GMT -5
Add my welcome Nugjuice! After reading your excellent post, I'm wondering if I should have kept my powder dry this morning and waited for the next salvo. I agree totally that this is a long term hold. At some point however, when positive news (of any kind) is announced, we should be able to solidify a bottom. Ultimately, it will become apparent to the street that the Technosphere platform makes MNKD a much more promising (less risky) investment,and at that point all bets about bottoms could be off. Things we know for sure are that those holding convertible notes have an incentive to contain or drop the share price and any number of positive events/announcements loom in the mid to distant horizon. As I always remind my kids, an investment is not a gain or a loss until it's sold. Now if I can just get my broker to offer the choice of hiding the red and green value numbers associated with my positions, it'll be easier to stay detached. Chris C lol! If staying detached was easy, or if investing was easy, everyone would be making money We have an old school broker in the office who has all of his tickers green, instead of red and green. That way he stays in a good mood all day when the market is down. I wouldn't worry about having more dry powder. The bottom line is if this is as successful as we all think/hope, it won't matter whether your basis was $5.90 or $6.50 or $4.99 or whatever. The secret to investing is keeping the position size correct. You need to be able to stomach the draw-downs. I learned this when I put 30% of my account in Netflix at $78 a share. I was so convinced the market was wrong that I made a huge bet. When it moved against me, I had to get out at $72 because I couldn't take the pain. Fast-forward 4 years and it's at $475 a share. If I had put 5% of my account in the trade, I never would have sold it. You need to be able to sleep at night
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