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Post by tingtongtung on Aug 3, 2018 14:23:30 GMT -5
Deerfield has a large supply of shares that they want to lose. I am obviously guessing the covering now. crazy thought, covering could take price up to 1.40. let's see. Decent covering - IMO, they could try to take it down one more time (won't be as drastic as earlier).. Got some at 1.23, have another for 1.0x. Lets see. This would have certainly pushed out a lot of new investors, and many longs have increased their holdings. But, interesting is, who bought ~10 million shares today? Is it PIPE as Dennis says? I wish they don something to clear up the cash part asap.. |
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Post by traderdennis on Aug 3, 2018 14:24:09 GMT -5
Either a funding agreement and/or insider info from a bank MNKD dealing with whom has channels to these hit piece writers that write the hit pieces after they hear of the proposed funding need. Articles then act as a cover to their inside info. IMO if I was part of a pipe funding not released, there would be articles PUMPING the stock, not making hits on it, as they want retail to buy shares to fund the pipe.
If no pipe is announced, then action would say a hedge fund is looking to short the market cap looking for BK . |
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Post by traderdennis on Aug 3, 2018 14:25:28 GMT -5
Well, it would certainly taint Mike's credibility if they dilute us after hours or over the weekend. Otherwise, this price action is ridiculous. Pipe would be the best outcome of this action. |
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Post by mnkdfann on Aug 3, 2018 14:25:38 GMT -5
Interesting how this article as well as the Motley Idiots article about Mannkind and bankruptcy both came out around the sametime. SMH That sort of timing would make one think there was an earnings call just the day before, or something like that. Oh, wait. |
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Post by goyocafe on Aug 3, 2018 14:25:59 GMT -5
Could it be a bear trap? Mike has to be aware of the way this system works. Why not play it to win. Counter intelligence could fry the shorts if the wrong information was leaked to the bad players. It would also expose the bad seeds left holding a short bag. Porsche...
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Post by cretin11 on Aug 3, 2018 14:26:50 GMT -5
Sounds like a pipe funding agreement was signed around 11am. Guessing the price is at $1.00 per share Less than a day after Mike says he does not expect dilution will be the predominant way cash flow is grown to breakeven? If so, that would be something. (PIPE is dilution, isn't it, or am I missing something.) To me, the important word yesterday was "predominant" - Mike didn't say "we won't dilute" he just said he didn't expect that to be the predominant method. I took that as almost a guarantee that dilution will happen. If he had some ace up his sleeve for $$ wouldn't he have said something more like "we hope not to dilute at all"? I dunno, maybe that's an overanalysis, but that's what i took away from the comment. Sure does feel like deja vu with MNKD, a CC and then share price goes to crap. |
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Post by figglebird on Aug 3, 2018 14:29:02 GMT -5
how do we know Deerfield is not cashing out some
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Post by brotherm1 on Aug 3, 2018 14:29:15 GMT -5
Either a funding agreement and/or insider info from a bank MNKD dealing with whom has channels to these hit piece writers that write the hit pieces after they hear of the proposed funding need. Articles then act as a cover to their inside info. IMO if I was part of a pipe funding not released, there would be articles PUMPING the stock, not making hits on it, as they want retail to buy shares to fund the pipe.
If no pipe is announced, then action would say a hedge fund is looking to short the market cap looking for BK .Could have started from a bank that MNKD refused an offer from. |
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Post by cretin11 on Aug 3, 2018 14:30:08 GMT -5
Could it be a bear trap? Mike has to be aware of the way this system works. Why not play it to win. Counter intelligence could fry the shorts if the wrong information was leaked to the bad players. It would also expose the bad seeds left holding a short bag. Porsche... This ain't no bear trap. |
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Post by joeypotsandpans on Aug 3, 2018 14:32:19 GMT -5
Either a funding agreement and/or insider info from a bank MNKD dealing with whom has channels to these hit piece writers that write the hit pieces after they hear of the proposed funding need. Articles then act as a cover to their inside info. IMO if I was part of a pipe funding not released, there would be articles PUMPING the stock, not making hits on it, as they want retail to buy shares to fund the pipe.
If no pipe is announced, then action would say a hedge fund is looking to short the market cap looking for BK .Actually, I'm looking for the hedge fund that has the where with all to take the other side of that "crowded trade", I wish I had a nickel for every time the word dilution has been mentioned the past 30 days alone....this has to be the most widely anticipated dilution ever, I would not want to be on that side of the trade right now. Reminds me of all the "end of the eurozone" calls made if the British were to Brexit. Just sayin  |
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Post by boca1girl on Aug 3, 2018 14:32:49 GMT -5
Less than a day after Mike says he does not expect dilution will be the predominant way cash flow is grown to breakeven? If so, that would be something. (PIPE is dilution, isn't it, or am I missing something.) Cash has to come from somewhere. If there is not a pipe announced soon, then I would expect the share price to continue lower until a source of funding is announced or the loan rate rises signaling this is a short attack. Loan rate dropped again today but I still think this is a short attack. |
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Post by orlon on Aug 3, 2018 14:34:35 GMT -5
Just thought I would peek in and see what is being said as the the stock price gets pummeled again. The usual optimistic dribble I see and a multitude of guesses as to why this is: bear trap, etc. I looked at the sales of Afrezza and saw not much of an improvement over the last couple of years. Why am I here now? Just to see if the same Mannkind Mafia is steadily pumping BS, and what to my surprise...they are. And to remind myself what a bad investment I made!
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Post by silentknight on Aug 3, 2018 14:34:52 GMT -5
I think what you're seeing is the street losing what little confidence they had in MNKD, and a massive sell off as a result. The 10-Q may have had increases in sales, but for a company that has had two years to turn around the sales of its product, MNKD is doing a pretty bad job of convincing investors that it has a sound strategy to significantly drive sales increases and/or raise capital necessary to keep the lights on. A 25% drop on 5X normal volume is NOT manipulation. It's a massive sell off of multiple investors, likely funds who really didn't like yesterday's call or the company's quarterly report.
MNKD has proven that it has no real way of raising or paying debt through any other way than dilution, and they're up against a wall in terms of capital when you factor in their covenant to Deerfield with their required cash reserve. You factor in the company's sales ( or lack thereof) and their likely imminent dilution, and the Street will run for the hills. This should not be taking anyone by surprise.
Today's articles are not the reason for the sell off. If MNKD could sell Afrezza and stop diluting, you'd see the share price increase and the articles stop. Unfortunately they can't and the negative press and hit pieces are a side effect of the poor status of the company, not the cause of it.
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Post by matt on Aug 3, 2018 14:41:43 GMT -5
Cash has to come from somewhere. If there is not a pipe announced soon, then I would expect the share price to continue lower until a source of funding is announced or the loan rate rises signaling this is a short attack. Agree completely. Simple math tells you that if the company had $26 million in cash at June 30 and a Q2 burn rate of $9 million per month the company now has less than $20 million remaining on the balance sheet, which is certain to put them in violation of the Deerfield covenants at the end of Q3. That means either a significant financing or a renegotiation of the covenants is on the horizon, and we all know that Deerfield will take a pound of flesh for changing their loan terms. Mike keeps talking about non-dilutive financing sources, but unless he has a deal already in the final stages of legal review it will be almost impossible to consummate a deal in time. The longer he waits the less negotiation leverage he has. Which leads to the most likely conclusion that a PIPE is near. You don't need to be Nostradamus to figure that out so lots of market participants will be betting against MNKD and the downward pressure will continue until the deal is announced. A PIPE is not going to be easy or cheap, but the longer it takes to consummate a deal the more painful it will become as the price drifts lower. This is a case where ripping off the Band-Aid is a lot less painful than teasing it off in increments. Like Dennis said, cash has to come from somewhere and there are some expenses (like payroll) that cannot be delayed. |
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Post by mytakeonit on Aug 3, 2018 14:46:32 GMT -5
So E*Trade was actually trying to help me by not giving me access to my transfer. Wow!
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