Being that the stock of $VRX is single handedly destroying my favorite hedge fund manager, the entire biotech sector, and portfolios of countless investors, I thought I’d share the news with you.
Citron Research, a bearshitting evil website whose sole purpose is to destroy value in the companies they talk about, is out with–yet another–research note, princely timed, accusing VRX of ‘Enron-Like” fraud.
In short, Andrew Left is accusing Valeant of creating ‘phnatom sales’ via a network of nefarious pharmacies, all backed up with a series of screen shots from websites.
At current prices, according to recent filings, Bill Ackman’s Pershing Square stands to lose almost a billion dollars in their VRX position…TODAY.
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Ack Ack Ack Attack !!
I wonder if he feels as bad today as he did when he ran our of “gas” on his bicycle. hahahahahahhahahaha
Amid all of the carnage, DIA down .03%. Vix, up a frightening .19%
Serves Ackman right for destroying the hopes and dreams of the Latino community via $HLF
Thanks for the info. Great stuff. I had to buy some for some sort of bounce? I hope the rebuttal is good after the stock was halted.
Well, ya gotta give Ackman credit for putting his money where his mouth was, assuming he did, as he stated, add to his position intraday.
“Enron” is certainly the loaded word. I still remember a magazine cover with the two bigshots heads transposed onto power transmission towers w/ the title “Power Play”. Indeed it was. The article said they were great but that some analysts were disquieted by their “black box” proprietary methodologies.
Down a measly 40%.
As for Ackman, the whole HLF thing was just dumb. As far as I could tell, they were an MLM outfit, unsavory, but legal. The MLM business model has been around for a while. But SuperAckman was just going to jawbone them into oblivion.
And look at that: they just turned the machines back on for VRX. Value investors to the rescue!
Ackman bought 2M shares.
http://www.reuters.com/article/2015/10/21/us-goldman-sachs-staff-idUSKCN0SF2FP20151021
Goldman getting into consumer lending. Unless they can somehow keep their name concealed, that has fail written all over it.
lol I bought some VRX
I remember when citron attacked QCOR and sent it below $20. it was bought out about a year later at three times that low.
Citron may be the least of their problems. As the govt sticks its nose deeper into health care, I think drug price controls are guaranteed to happen.
i’m already out of it. in at 106 out at 114.
The will cause entire market to pull back a smidge
Dow back to 16800- 16900
S & P under 2000
THEN BUY IT
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