|
Post by Chris-C on Oct 18, 2017 17:35:03 GMT -5
We watched the stock price triple in a week in order to place 10 million shares at $6. There were some positive events announced a few weeks ago, but they were not sufficiently positive to justify triple the price without confirmation that the changes will translate to a better income statement going forward. I have to think that the stock will move backwards for a while as the market waits to see the income statement metrics improve in a measurable and consistent way. In the meantime, the price move put some much needed cash on the balance sheet which will give management the time to produce better numbers. True price appreciation always follows improvement in fundamentals, not the other way around. The recent price pop was anticipatory, but if the fundamentals move north the improved price will come back. If not, it go the other way. Give it some time.
---------------------------------------- Well said, Matt. The euphoria of seeing the share price pop after so many months of enduring the doldrums and predictions of imminent doom was so addictive that the deflation of "business as usual" was bound to result in some expressions of hostility and lament. I hate to point it out yet again, but the shorts have an advantage with small caps in that they can cause havoc during times of limited volume and they can exploit the weak enforcement and soft rules of the exchange by playing with phantom shares. Until that gets cleaned up. good companies will suffer. But, as you say, at the end of the day, it's about fundamentals. When we reach the tipping point and the scripts begin to show growth that equates to positive earnings, the share price will take care of itself. As my son points out, if this launches as we expect and as PWDs deserve, the chump change being earned by today's manipulation will quickly fade into the ether as a distant event unworthy of mention. And, some of these "players" will get their clocks cleaned if, in the meantime, good things happen abruptly. GLTAL Chris-C
|
|
|
Post by babaoriley on Oct 18, 2017 17:40:36 GMT -5
I do think it makes a difference, it shows confidence and the market likes a confident CEO. See Tesla stock performance. You can argue that they have more product demand but their valuation is VERY high compared to the amount of cars they are actually selling. Kent Kresa plunking down $1M shows confidence... tweeting that you don't think shorts are being fair, hmmm, not sure as an investor I'd put much stock in it meaning much. But I guess I'm not the one you need to convince. You can always message Mike and tell him he needs to chastise shorts. If this were ever unraveled, I think you'd fine that Kent is the only guy in the offering who did not short the stock in the mid $6's. I believe what we have here is a nifty short term loan, made by the buyers of those shares (except for Kent). Sounds so conspiratorial, doesn't it? Yes, our recent run-up was attributable to more than just a label modification, but that was the trigger for it all. The run-up was attributable in large part to the "can-do" attitude plus market know-how of the brokers involved. Support for this theory is found in the somewhat unusual behavior of the stock, right after the offering closed and Kent's purchase was made public via SEC filing, rather than lend any support at all for the stock at $6, all support seemed to vanish. The above theory is the purest form of speculation.
|
|
|
Post by brotherm1 on Oct 18, 2017 17:44:47 GMT -5
31% loss in 3 business days for those that participated in the follow-on offering. I wonder where that ranks. Sorry I sound like a basher. I'm just scratching my head at the last 2 weeks trying to figure out what I'm missing. I honestly believe the people who participated in the offering at $6 knew enough to have sold in advance nearer to $7. Yes, IMO, that includes the Kresa Foundation. They knew, as did we all, that Maxim and Locust Walk (?) and H.C. Wainwright & Co and the penny stock newsletters etc. were doing their best to drive the price up. They'd been working on this since the late spring / summer, whenever Locust was hired, and Maxim started showing up on the conference calls, etc. I'll admit, I don't understand HOW those players do it, exactly, but IMO clearly they did. If this is the case that we sold to shorts, then we would have been smart enough to fully utilize the $50M ATM at $6 or so also. If we find we did, I’ll buy your story. If we did not, there is more to the story in my mind.
|
|
|
Post by liane on Oct 18, 2017 18:00:14 GMT -5
Hey everyone - Please keep in mind when using the "quote" function - you have to put your reply after the box that comes up. That then makes it clear what is the original quote and what is your response.
|
|
|
Post by babaoriley on Oct 18, 2017 18:01:58 GMT -5
I honestly believe the people who participated in the offering at $6 knew enough to have sold in advance nearer to $7. Yes, IMO, that includes the Kresa Foundation. They knew, as did we all, that Maxim and Locust Walk (?) and H.C. Wainwright & Co and the penny stock newsletters etc. were doing their best to drive the price up. They'd been working on this since the late spring / summer, whenever Locust was hired, and Maxim started showing up on the conference calls, etc. I'll admit, I don't understand HOW those players do it, exactly, but IMO clearly they did. If this is the case that we sold to shorts, then we would have been smart enough to fully utilize the $50M ATM at $6 or so also. If we find we did, I’ll buy your story. If we did not, there is more to the story in my mind. Don't believe Kresa would have been a part of that - too risky.
|
|
|
Post by traderdennis on Oct 18, 2017 18:02:34 GMT -5
I honestly believe the people who participated in the offering at $6 knew enough to have sold in advance nearer to $7. Yes, IMO, that includes the Kresa Foundation. They knew, as did we all, that Maxim and Locust Walk (?) and H.C. Wainwright & Co and the penny stock newsletters etc. were doing their best to drive the price up. They'd been working on this since the late spring / summer, whenever Locust was hired, and Maxim started showing up on the conference calls, etc. I'll admit, I don't understand HOW those players do it, exactly, but IMO clearly they did. If this is the case that we sold to shorts, then we would have been smart enough to fully utilize the $50M ATM at $6 or so also. If we find we did, I’ll buy your story. If we did not, there is more to the story in my mind. The status of the ATM should be a question submitted at the next conference call
|
|
|
Post by derek2 on Oct 18, 2017 18:20:20 GMT -5
If this is the case that we sold to shorts, then we would have been smart enough to fully utilize the $50M ATM at $6 or so also. If we find we did, I’ll buy your story. If we did not, there is more to the story in my mind. The status of the ATM should be a question submitted at the next conference call In the past, whenever there has been activity on the ATM, the company has updated at the next call as part of their presentation. I'm (really really) happy with the profit I took, and happy with the position I still hold. If the SP goes down much more, I'll add some Nov calls on the expectation of a recovery.
|
|
|
Post by sportsrancho on Oct 18, 2017 18:22:20 GMT -5
Our CEO should do this too I just tweeted it out kite:-) Nancy will pic it up and run with it:-)))
|
|
|
Post by anderson on Oct 18, 2017 18:38:09 GMT -5
I honestly believe the people who participated in the offering at $6 knew enough to have sold in advance nearer to $7. Yes, IMO, that includes the Kresa Foundation. They knew, as did we all, that Maxim and Locust Walk (?) and H.C. Wainwright & Co and the penny stock newsletters etc. were doing their best to drive the price up. They'd been working on this since the late spring / summer, whenever Locust was hired, and Maxim started showing up on the conference calls, etc. I'll admit, I don't understand HOW those players do it, exactly, but IMO clearly they did. If this is the case that we sold to shorts, then we would have been smart enough to fully utilize the $50M ATM at $6 or so also. If we find we did, I’ll buy your story. If we did not, there is more to the story in my mind. I am just hoping they took past history of being shorted down once trading volume decreases into account and loaded up on cash at $6 with the ATM. Cash is king we can always authorize more shares.
|
|
|
Post by brotherm1 on Oct 18, 2017 18:42:21 GMT -5
If this is the case that we sold to shorts, then we would have been smart enough to fully utilize the $50M ATM at $6 or so also. If we find we did, I’ll buy your story. If we did not, there is more to the story in my mind. ”Don't believe Kresa would have been a part of that - too risky.” He probably did not buy his shares to have them involved in any short selling. Though I’m thinking he figured with the almost $57M or so to have been raised with the offering together with another $50M with the ATM; a year plus of cash for MNKD would more than at least eventually solidify his investment.
|
|
|
Post by liane on Oct 18, 2017 18:49:25 GMT -5
|
|
|
Post by kc on Oct 18, 2017 19:43:54 GMT -5
Interesting thought. We know that 61 Million in share were sold for $6.00
Something will eventually catch the shorty's with their pant's down....Even Harvey W. Got caught.
If they sold that many shares then we are probably going to fall a lot further. Wasn’t the share count something around 100 million or so? Selling 61million share would be a roughly 60% dilution which would likely mean a 60% decrease in share price if the market values MNKD the same way. I intentionally haven’t followed the stock for a while and don’t know the specifics of recent developments. But if we diluted to that magnitude I think we are heading into the 2’s. As I’ve always said, I don’t think we see a true sustained increase in share price until MNKD sells their drug better than they’ve done thus far. My bad we sold 60 million dollars or 10 million shares. My bad for not proofing my post.
|
|
|
Post by kball on Oct 18, 2017 19:51:19 GMT -5
brotherm1 - Please read my post above. haha..pet peeve but yeah, gets confusing--kball (edit) ^ Last line should be outside box Brotherm1...unless you're a russian bot?
|
|
|
Post by swanybuaya on Oct 18, 2017 21:05:17 GMT -5
Hey everyone - Please keep in mind when using the "quote" function - you have to put your reply after the box that comes up. That then makes it clear what is the original quote and what is your response. I thought it was just me that had this problem. It's really a design issue with the message board site. When you first start writing a post and decide to delete the words with the back or delete key, as soon as the last letter is deleted the cursor will automatically jump into the bubble you are quoting. And you CAN'T get out. You are trapped in the quote. Only way to get out of it is to refresh the page. Using Chrome with mac and just tested it.
|
|
|
Post by mnholdem on Oct 19, 2017 4:55:38 GMT -5
TIP: If you plan to clip/boldface words inside the quote box, type at least a few letters outside the quotebox first, before editing the quote. Then continue writing in your reply section and delete the placeholder letters you first typed when you've finished Never delete all the words in your reply section. If you delete all characters in the reply section, you will inadvertently close the entire section and you won't be able to type a reply and have to back out and start over.
|
|