Just when I thought Bill Ackman’s fortune had turned for the better, this shit happens. Shares of VRX are down a staggering 17% today, putting Bill’s intra-day losses on the idiot Candadian company at over $300 million.
He is losing more than $20 million per point.
As a result, people are just gunning at his positions, taking down PAH and giving rise to HLF. Truly, Bill Ackman is having a very, very bad day.
I don’t even know what the news is anymore for VRX. The stock is stuck in the biggest fag box I’ve ever seen. As such, the entire biotech sector is being shredded. ENDP is off more than 12% because people see them as a mini VRX. There is immense pain being widely distributed in the sector today and it bodes very poorly for the market, on the whole.
Regarding VRX, providing it’s not a fraud and Bill gets the biblical revenge he so desperately seeks, valuation is compelling.
It’s never easy to jump in front of a moving train. I rarely, if ever, buy blood like this. It’s too scary. But these are the type of flush out moves that, potentionally, put in bottoms. I know, the whole thing is a scam.
Remembe when BP was going to zero because the oil spill was uncontrollable and it was going to destroy the world? Or when Fukushima threated to disintegrate Japan and when MRK was going to zero because their meds caused insane heart attacks?
If you enjoy the content at iBankCoin, please follow us on Twitter
back in GPRO aka Polaroid
I think its worth a nibble….
LABU is only now coming back into its trading channel so no sign this is the end. I’ll start looking at LABU below 20.
The ceo has to go.
Fly,
Are you holding your $SHAK position through earnings or booking some profits?
Whenever a private entity is caught egregiously taking advantage of the govt, especially b4 an election year, they will be dismantled ala Enron, Lehman, that f’ng Cali mortgage company run by that tanned goon, etc. In this case they tried to skirt the requirement of pharmacies to offer generics.