Say what you want about M. Shkreli, but he’s channeling Jay Gould and Commodore Vanderbilt with his recent actions in KBIO.
Him and his friends cornered the market in a micro cap stock, caused a great spike in volume, drove shares up to absurd levels, and now he’s calling in all shorts.
What does that mean?
According to Markit, 49% of KBIO’s shares are short, up from 5%. In order to short sell, one must borrow from a long. Well, what is Shkreli decided to stop lending to shorts, forcing them to buy in?
Forcing them to buy in.
Some lesser sites will reference the great Volkswagon squeeze. But “The Fly” keeps it real and always keeps it old school. Let’s go back to when the squeeze all started, back in the 19th century Harlem Railroad corner.
What the fuck am I talking about?
This.
I suppose things will go great for Mr. Shkreli. Until they don’t.
Boss level trolling…
He’s writing a new playbook
The pipe & top hat are on point, my fellow.
Genius.
The pimp hand is strong with this one.
The Devil himself is green with envy over the Shkreli
The Shkreli is pure evil personified
He is still a Dick With Ears. Just a more wealthy Dick With Ears.
Begun ,,,, the short wars have ….
This story, along with an awareness of The Fly’s love for revenge, is why I sometimes refer to Dr. Fly as “Commodore”. It’s not enough for The Fly to merely win – you HAVE to lose…
Could someone please explain to me how what guys like this and Eckman and Icahn are doing in taking positions then using social media to drive prices in one direction or another isn’t insider trading and market manipulation on a gross and grande scale?
bunk- my view: Nothing new here. Same thing people have been doing for years, just a different communication method. Cave men did it with whatever they traded then.
Shkreli is starting to grow on me in a diabolical, nemesis of Batman sort of way … even as a nemesis of Bond, James Bond
sheer geinius – buy up the float of a bankrupt piece of shit that has 1 million days to cover … let them continue to short & then decide not to loan stock out when short position is maxxed
this may become a new playbook going forward
Maybe he should be offered an iBC blogship?
+1
I wonder if the SEC even cares.
Fly,
Which book is that from?
Thanks
http://www.amazon.com/Dark-Genius-Wall-Street-Misunderstood/dp/0465068863/ref=pd_sim_14_1?ie=UTF8&dpID=51py-%2BTwM1L&dpSrc=sims&preST=_AC_UL160_SR107%2C160_&refRID=1GWR4907SKBP8HHP8E9R
Great book
http://www.amazon.com/gp/aw/d/B00BKZGOIQ
Would love to see a bigger dog take notice of this action and step in and lay waste to this Shkreli boy. Greed is good.
bunk- BOYAJ did a post on the legal aspects of insider trading.
http://ibankcoin.com/boyaj/2015/11/23/shkreli-to-stewart-is-it-insider-trading/
I think in the court of public opinion Mr. Shkreli is insider trading, but probably not as a matter of law. He certainly isn’t playing fair in the minds of many, and jacking up the price of single sourced drugs is not good karma.
Reminds me of the copyright lawsuit over the song “Blurred Lines”. As far as the jury and most of the general public is concerned, Blurred Lines is a rip off theft of Marvin Gaye. But does it actually violate copyright laws? I suspect it does not, despite what the average person might think.
If Blurred Lines is a playbook, Ican and other legendary stock raiders should file a lawsuit against Shkreli for “stealing” the vibe and groove of their own prior stock trading adventures.
keyser soze of the market. everyone laughed and mocked-now he is crushing pleebs with sarcastic apologies. This guy is a G with tiger blood running through his veins
Once he unwinds all his positions how much cash will he actually have? He has way too high a profile for this kind of dealing. He is a target.