This is fuckery largess. This is madness. This is lunacy. This is biotech listed on the NASDAQS.
Asshole CEO of Turing Pharma, the same loser who proudly boasted about jacking prices higher for his bullshit drug, which was the initial cause for the biotech rout, announced that he purchased a shitload of KBIO, about 40% of the company.
KBIO had announced they were winding down operations and the stock was 24 cents as of yesterday. Right now the stock is about $15.
The speculation is Marty will reverse merger his piece of shit company into KBIO. This, of course, means that another bullshit biotech company will be publicly traded, available for short sellers to drive into the dirt.
But, in the meantime, rabid dogs are bidding up KBIO in the after hours, as if KBIO had a cure for cancer in its vaults.
According to the above filing, Marty bought about 1.2 mill shares for around $1.6 mill, putting his cost basis about $1.32–for a paper profit of approximately $16.5 mill.
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You can watch his youtube streams and throw jeers at him all you want, but Shkreli is an artist. A master of fuckery. First he blows up the biotech sector. Next he blows up the shorts.
he’s an immense scumbag
Bout $30mm in paper gains.
Unfukingbelievable.
Unless this guy is coated with some sort of non-public teflon, he is on track to receive the full force of govt fuckery. They can be slow, but are quite relentless when provoked.
Stock is now $20, up 850%
MERRY XMAS MARTY!
wait from 24 cents that would be 8500%?