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Post by od on Nov 12, 2015 12:33:48 GMT -5
Thanks tony. Any chance that big money was also some short covering, or would that not make sense with that timing? There may have been a little panic covering today, but yesterday was the logical day for shorts to cover if they were looking for an opportunity to cash in. This looked like buying from one entity. If I were the suspicious sort I might think it was Mannkind if they weren't so tight on cash. If it hadn't happened in 15 minutes I would have just thought it was just a reversion to the mean. As it is. your guess is as good as mine. BTW - MNKD stock manipulation usually takes place on low volume, not high volume. Low stock price + low volume = a stock that's easy to manipulate. Tony, Too many needles for me to thread but...it seems like the heavy buying occurred as the TASE was closing...your thoughts on a connection? Thanks.
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Post by jurystillout on Nov 12, 2015 12:49:26 GMT -5
Yesterday seemed to be a lot of panic selling resulting in huge volume. This is often referred to as capitulation. That's where the pain just becomes unbearable and people sell at any price. I suspect many short sellers grabbed the opportunity to cover yesterday. I know I would have if I was short. I don't think that is manipulation, just smart trading. However when someone with a large following spreads a false rumor without confirming the validity, it at least smells of manipulation. It may be hard to prove though. As for today's trading some big money came in started buying in volume around 10:15 am EST(about 10 million shares in 15 minutes) Whatever that was it was serious money, not stock manipulation. I don't pretend to know whether it was a fund, a company, a private investor or what, but it definitely wasn't some clown who writes a column laying out 25 million dollars to manipulate Mannkind stock. I don't even know where the price will settle today, but stock manipulation? I don't think so. I agree with you Tonyz, however as long as you hold your position and don't make rash decisions (as I almost did yesterday) the "manipulation" will have little to no effect on your bottom line if the company does what it has the potential to do. It's kind of funny how we all have someone to blame when things go south, for me it's management, for others it's the shorts. I look forward to the day when we all start giving kudos to those that took us north!
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Post by longinvstr on Nov 12, 2015 13:34:20 GMT -5
Whoever believes strongly enough in a particular narrative (short or long) will believe it enough to put their money where their mouth is and push the market that way and time will prove them right or wrong. This is what has been happening in Mannkind. What is wrong with this is the asymetrical nature of information giving shorts the advantage and the seemingly coordinated disinformation campaign that never seems to br sanctioned ot even looked into (and not just for Mannkind obviously). One could make the argument, and many have, that you just described the root cause of our current societal illness. It is the telling of only one story where there are at least two. In the info age, the press has to be the primary means of checks & balances. No way the financial markets & MNKD can be immune.
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Post by tonyz on Nov 12, 2015 13:38:41 GMT -5
There may have been a little panic covering today, but yesterday was the logical day for shorts to cover if they were looking for an opportunity to cash in. This looked like buying from one entity. If I were the suspicious sort I might think it was Mannkind if they weren't so tight on cash. If it hadn't happened in 15 minutes I would have just thought it was just a reversion to the mean. As it is. your guess is as good as mine. BTW - MNKD stock manipulation usually takes place on low volume, not high volume. Low stock price + low volume = a stock that's easy to manipulate. Tony, Too many needles for me to thread but...it seems like the heavy buying occurred as the TASE was closing...your thoughts on a connection? Thanks. Just speculation on my part, but perhaps the idea was to get the price back to a more normalized recent price before all the strange trading based on the TA pullout rumor. But then who would benefit from that other than Mannkind? One thought that occurred to me was that Sanofi could have purchased less than 5% of the MNKD in the open market without having to report it, or for that matter yesterday's selloff would have been a terrific opportunity for any investor trying to accumulate a significant position at a reduced price. Like I said though it's all speculation on my part no info yet.
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Post by patryn on Nov 12, 2015 13:39:53 GMT -5
I have always maintained that the long term health of MNKD has nothing to do with the shorts. It completely has to do with the sales, marketing, and product development for Afrezza and future technosphere products. But in the short term, can the stock price be manipulated? Absolutely. Both the long and short term holders can and probably have done so. I as much as admitted that I contributed to the "manipulation" yesterday. It certainly helped my portfolio a fair amount today, though I remain committed to seeing where the company heads long term so I will not be taking my paper profits off the table at the moment.
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Post by cjc04 on Nov 12, 2015 13:50:55 GMT -5
I have always maintained that the long term health of MNKD has nothing to do with the shorts. It completely has to do with the sales, marketing, and product development for Afrezza and future technosphere products. But in the short term, can the stock price be manipulated? Absolutely. Both the long and short term holders can and probably have done so. I as much as admitted that I contributed to the "manipulation" yesterday. It certainly helped my portfolio a fair amount today, though I remain committed to seeing where the company heads long term so I will not be taking my paper profits off the table at the moment. [ I completely agree that MNKD's future is totally dependent on their performance...... However, the following is a "news" headline I saw this morning on my Etrade app. Like a self fulling tragedy, lies shouldn't be labeled as news.... MNKD is squeezing higher after confirming it will list on the Israeli Tel Aviv Stock Exchange on November 15. The stock hit a new all time low yesterday after reporting another disappointing quarter on Monday morning. MNKD's inhaled insulin drug Afrezza is a flop, Q3 shipments were just $4.1 mln vs. $5.9 mln in Q2.45% of the float is sold short.
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Post by liane on Nov 12, 2015 15:11:15 GMT -5
New all time low???
I guess the author was too lazy to look back to 2012.
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