iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,220 Blog Posts

In Time Magazine Interview, Trump Promises to Make Biotech Investors Poor Again; Biotechs Plunge

The riskiest part of the risk curve is getting its face kicked in this morning, after President elect Trump said he’d bring down drug prices.

Be honest, the only reason why we like high drug prices is to bank coin on the drug stocks. Any rational person would tell CELG to fuck off and to lower prices.

Apparently, that’s precisely what Trump intends to do.

Trump said he doesn’t “like what’s happened with drug prices” and intend to bring them down.

Just that small set of words has the biotech index in free fall mode, with shares losing billions in market cap. One of the chief losers is Bill Ackman’s VRX.

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3 comments

  1. roundwego

    ah nice to see ya not let up steam fly. me I had to regenerate. but things are autopilot at this stage as Trump has seemed to have sold in June as I did and I am just managing my stop and re-entry of shorts.

    http://www.zerohedge.com/news/2016-12-07/trump-sold-all-stocks-june-i-felt-i-was-very-much-going-be-winning

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  2. cancel19

    He should focus more on corrupt FDA and an archaic drug approval process! That would bring drug prices down. It’s not just all about greed.

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  3. stockhawk

    Greed is good though, right?
    I’m short MCK and looking for another one to short by the end of the year

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