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Post by silentknight on Apr 21, 2017 10:41:44 GMT -5
With such intense and sustained short selling, there just doesn't appear to be a bottom on this stock. Very depressing. The bottom for this stock is zero. That's been established a long time ago and it certainly appears we're headed to that based on the price action. The cherry on top is that MNKD can do absolutely nothing to stop it. They have immaterial sales, inconsequential revenue, and only a few months of cash left. Clock for delisting notice starts today if we close below zero. Not even a full two months since they R/S to fix the first one. I expect you see an updated proxy in the coming days possibly requesting authorization for another R/S and an increase in authorized shares to give them room to dilute. I'll be voting no if that occurs. Another R/S and dilution would have the same effect as bankruptcy for shareholders, so I'd rather the company just disappear or reorganize than allow them to continue to drive it into the ground. If any of the BoD had an ounce of integrity, they'd resign their positions out of shame and beg shareholders for forgiveness. Good luck that happens when they can wait for BK and try and pull their golden parachutes. Here's hoping a judge throws them out if and when it comes to that. |
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Post by fanz8967 on Apr 21, 2017 10:57:03 GMT -5
My understanding was that the BOD wanted the 5-1 split and Matt want to wait and then do a 10-1. That would be a 50:1. If they did a 2:1 now that would be the same as a 10:1 then. Honestly, would it even matter if they had done a 100:1? They was they are burning cash and failing at sales, they were going to get shorted under $1 either way. It just would have been more profits for the shorts. The problem is the performance of management, not the number of shares. A lot of people say that they are intentionally sabotaging the price so that the company can be taken private for very cheap, hence no TV ads. I can't imagine they are just this bad at their jobs. They must be sabotaging this to benefit an buyer that is going to compensate them in some way. |
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Post by mnkdfann on Apr 21, 2017 11:27:23 GMT -5
Clock for delisting notice starts today if we close below zero. Actually, I believe the so-called clock only starts after 30 days of non-compliance. From the NASDAQ site: "If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements." listingcenter.nasdaq.com/Material_Search.aspx?cid=14&mcd=LQ |
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Post by curiousdoc on Apr 21, 2017 11:30:37 GMT -5
5:1, 10:1, 20:1... This is all becoming irrelevant. It no longer matters how good this drug is. They have gotten zero sales traction despite two relaunches. Unless that changes, the end is when, not if. There is no alternative option. No one is buying this company when they can pick up the pieces for pennies after bankruptcy.
This has been an expensive lesson in irrational markets and poor sales execution.
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Post by silentknight on Apr 21, 2017 11:50:24 GMT -5
Clock for delisting notice starts today if we close below zero. Actually, I believe the so-called clock only starts after 30 days of non-compliance. From the NASDAQ site: "If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements." listingcenter.nasdaq.com/Material_Search.aspx?cid=14&mcd=LQYou're completely correct. I was attempting to refer to that window opening if the share price closes today below $1.00 in my comment. I should have phrased it better. |
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Post by traderdennis on Apr 21, 2017 12:41:55 GMT -5
5:1, 10:1, 20:1... This is all becoming irrelevant. It no longer matters how good this drug is. They have gotten zero sales traction despite two relaunches. Unless that changes, the end is when, not if. There is no alternative option. No one is buying this company when they can pick up the pieces for pennies after bankruptcy. This has been an expensive lesson in irrational markets and poor sales execution. Not so sure it is an irrational market when the company has not sold its product. The lesson I have learned from MNKD is that the market is never wrong. |
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Post by mnkdfann on Apr 21, 2017 12:58:33 GMT -5
Seems apropos today ... youtu.be/iTKj_Vd5_BkEvery limbo boy and girl All around the limbo world Gonna do the limbo rock All around the limbo clock Jack be limbo, Jack be quick Jack go unda limbo stick All around the limbo clock Hey, let's do the limbo rock Limbo lower now Limbo lower now How low can you go? |
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Post by bradleysbest on Apr 21, 2017 13:18:53 GMT -5
This very well may be the end folks. Price is dropping (0.91) & there is nothing imminent to save the day....
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Post by derek2 on Apr 21, 2017 16:22:13 GMT -5
I can't believe it , why mannkind management didn't do the deal with Deerfield when the price was .50 pre-split (2.50$) ? They may well have, including the discounted price of $1.15. In that case, Deerfield could short (as a hedge while waiting for deal consumption) at $2.50, and once the deal was signed and the shares were delivered, cover with those $1.15 / shares converted from debt. $2.50 - $1.15 = $1.35 A cool 117% profit. Personally, I think it was somewhat lower than $2.50, but who knows. |
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Post by mnholdem on Apr 21, 2017 20:43:44 GMT -5
My sources told me that Pfeffer wanted to wait, but there was no mention of his desired split ratio nor would there be, IMO.
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Post by slugworth008 on Apr 22, 2017 0:14:24 GMT -5
I can't believe it , why mannkind management didn't do the deal with Deerfield when the price was .50 pre-split (2.50$) ? They may well have, including the discounted price of $1.15. In that case, Deerfield could short (as a hedge while waiting for deal consumption) at $2.50, and once the deal was signed and the shares were delivered, cover with those $1.15 / shares converted from debt. $2.50 - $1.15 = $1.35 A cool 117% profit. Personally, I think it was somewhat lower than $2.50, but who knows. Very interesting indeed |
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