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Post by avogadro on Sept 22, 2016 12:27:15 GMT -5
I sold the last trace of my MNKD position today with no intention of re-entry. I have been involved with stocks since 1946 and rank MNKD as the worst holding I ever owned, and I've seen some dandies over those 70 years. Lesson learned: Never buy a stock with a massive short position.
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Deleted Member
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Post by Deleted on Sept 22, 2016 12:46:06 GMT -5
good luck. Adios.
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Post by matt on Sept 22, 2016 12:53:25 GMT -5
So does this mean Avogadro's number is now 0?
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Post by bioexec25 on Sept 22, 2016 13:01:31 GMT -5
All the best Avo. I may live to regret not joining you while I still have .20 cents on the dollar of original investment. Btw, ditto on the worse investment I've ever made, albeit still on paper for me at this point.
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Post by kbrion77 on Sept 22, 2016 13:03:30 GMT -5
I sold the last trace of my MNKD position today with no intention of re-entry. I have been involved with stocks since 1946 and rank MNKD as the worst holding I ever owned, and I've seen some dandies over those 70 years. Lesson learned: Never buy a stock with a massive short position. 70 years is quite the stock career! Good luck. I'm not saying MNKD is definitely going to survive but I'd imagine the people who disregarded Netflix's massive short position and bankrupt warnings in 2012 are doing just fine......
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Post by peppy on Sept 22, 2016 13:04:34 GMT -5
All the best Avo. I may live to regret not joining you while I still have .20 cents on the dollar of original investment. Btw, ditto on the worse investment I've ever made, albeit still on paper for me at this point. agreed. very difficult.
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Post by peppy on Sept 22, 2016 13:06:50 GMT -5
I sold the last trace of my MNKD position today with no intention of re-entry. I have been involved with stocks since 1946 and rank MNKD as the worst holding I ever owned, and I've seen some dandies over those 70 years. Lesson learned: Never buy a stock with a massive short position. 70 years is quite the stock career! Good luck. I'm not saying MNKD is definitely going to survive but I'd imagine the people who disregarded Netflix's massive short position and bankrupt warnings in 2012 are doing just fine...... remember the reverse split on priceline? PCLN I remember it at 2 bucks screencast.com/t/hIiJnMHY
www.google.com/finance?q=NASDAQ%3APCLN&ei=iB3kV8m3OYybmAH-q4z4BQ
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Post by kc on Sept 22, 2016 13:15:18 GMT -5
it is very difficult. I really don't like where we are today. One has to look at the size of their investment and risk. Balance gainers with Losers. There is always the wash rule to follow. If you have any type of big capital gains in 2016 and this big capital loss you have to sometimes sell the loss to utilize the capital gain. As 2016 draws to a close many of us will have to look at how to balance the losses with their gainers.
We wish you the best and hopefully the best is going to happen in the future for the rest of us invested in MannKind.
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Post by nylefty on Sept 22, 2016 13:24:52 GMT -5
I sold the last trace of my MNKD position today with no intention of re-entry. I have been involved with stocks since 1946 and rank MNKD as the worst holding I ever owned, and I've seen some dandies over those 70 years. Lesson learned: Never buy a stock with a massive short position. 70 years is quite the stock career! Good luck. I'm not saying MNKD is definitely going to survive but I'd imagine the people who disregarded Netflix's massive short position and bankrupt warnings in 2012 are doing just fine...... I'm a relative newcomer (having only been involved with stocks since 1959), but I'm still optimistic about MNKD's future and looking for a comeback in Q4.
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Post by kc on Sept 22, 2016 13:30:58 GMT -5
70 years is quite the stock career! Good luck. I'm not saying MNKD is definitely going to survive but I'd imagine the people who disregarded Netflix's massive short position and bankrupt warnings in 2012 are doing just fine...... I'm a relative newcomer (having only been involved with stocks since 1959), but I'm still optimistic about MNKD's future and looking for a comeback in Q4. 1962 my first stock was GE that my Parents gave me at age 2. Still have GE today.
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Post by Cowgirl on Sept 22, 2016 13:59:17 GMT -5
Avogadro....I'd agree with some respondents that there being a massive short position isn't a guarantee the price will go down. (Although, it certainly has here)
How we all got to here from what should have been a relatively straightforward launch of a novel, advanced way of providing insulin to diabetics is amazing but it falls back on the arrogance of management - and that goes back to Al Mann. He was a success, a genius inventor who brought the world the most successful insulin pump (and other things). He WAS rich. It came back to haunt them all. For years they fumbled through the FDA (first round of arrogance) and always had Al's money to carry them on. They got used to being independent - simply kicking the can down the road for their investors/always promising partnerships, new areas of success (Pain?) international sales etc. After they THOUGHT they had a great deal with SANOFI lined up w/ prior CEO of Sanofi the arrogance there was a terrible mistake. Basically handing SANOFI the reigns with no safe guards. Seems to me all the promised partners/new target areas were just more smoke and mirrors - but they still had Al Mann's money to continue forward. NOW THAT IS GONE. Al those below Al Mann followed suit with the arrogance but now find themselves with minimal sales - slow ramp up for sure - and really no money from Al's estate because the majority of Al's estate is now valued at $.67 cents per share. (Bye Bye Billionaire - dead or not).
So, RLS, EPI, new tack to sell Afrezza are just nothing to the share price. They'll dilute (even though they say they won't dilute "at these levels" because they will need money and Al's is all gone and Al's money is gone too! Afrezza will pick up but will not be at 10000 scripts a week for years. The inbetween - if you are a believer - is nothing to jump in for now.
I think you've made the right call. It's hard saying goodbye to what seems like a great product/device and the technosphere potential but management, sans al, is simply trying hard, learning along the way, and will need to react to the marketplace and dilute. Unless they actually bite the bullet and make a deal - which their past arrogance didn't allow for because the price was probably "too low" - then the PPS is going nowhere but down.
Good luck to you.
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Post by madog365 on Sept 22, 2016 14:21:19 GMT -5
Patience
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Post by radgray68 on Sept 22, 2016 14:27:03 GMT -5
I too had to sell shares that I had accumulated over 5 years. Lucky to have sold them for cost when we broke out to over $2 earlier this year. Life happened and the wife wanted out of our little condo. We just couldn't delay our gratification any longer. What can I say, the shorts beat me with the time element I didn't see coming.
I had enough in Mannkind to be driving a real bitchin Camaro right now. A little suggestion, I took a small percentage of my money and bought some $1 2018 calls. Just enough to cover some of the shares I sold to feel like I still have some skin in the game. Just a suggestion in case we do manage to pull out of this quagmire. I'd hate to be out completely when I still believe in the company's intellectual property and prospects. 2018 seemed like enough time to tell from here. GLTY
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Post by humann on Sept 22, 2016 15:23:41 GMT -5
I'm still young, have exceptional patience, can afford to lose what I bought ( not that I will be thrilled to ) and still think Afrezza is a big win for diabetics, so I'm going to stick it out with MNKD. I appreciate hearing from the experience of seasoned investors and take it into consideration, so thanks for sharing. I just cannot, in good conscience, bail on a product that actually works and has such benefits only because it is the fate Wall Street has blessed. To the investors who don't care whether Afrezza works or not and only care if it can become profitable in the next x months: Grow spines, you Rent-Seekers.
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Post by omeshrin on Sept 22, 2016 16:05:20 GMT -5
I'm still young, have exceptional patience, can afford to lose what I bought ( not that I will be thrilled to ) and still think Afrezza is a big win for diabetics, so I'm going to stick it out with MNKD. I appreciate hearing from the experience of seasoned investors and take it into consideration, so thanks for sharing. I just cannot, in good conscience, bail on a product that actually works and has such benefits only because it is the fate Wall Street has blessed. To the investors who don't care whether Afrezza works or not and only care if it can become profitable in the next x months: Grow spines, you Rent-Seekers. I agree, though I can understand why people would bail if they have invested more than they can afford to lose (a good number of MNKD investors), which is a mistake from the get-go, whether you are in purely for the money or invest also on a moral basis. I am also in the latter camp and believe that it is too early to throw in the towel, and I wouldn't want to anyway. I have family members with diabetes and they're waiting to get access to this treatment option in Europe. In addition, I find it odd that anyone would sell right now, considering data submission for label change and several marketing initiatives including direct to consumer coming up all before year end. I would agree that Al Mann's generosity with streams of funding has relaxed the company's discipline (which was possibly a factor that led to incompetence on behalf of management in the past) but today the company has taken into account the cash situation and how to navigate going forward. If you believe in the successful endgame I don't see the reason to sell. I think people are reacting emotionally to notice of delisiting and forgetting about what is coming up.
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