Obviously.
First, the morons at Sequoia sold out of their 10% stake in VRX. Then news broke that former CEO, M. Pearson, dumped 5 million shares of VRX for $96 million. Lastly, A. Left from Citron Research, the man, myth and legend who started this whole VRX to zero campaign when the stock was north of $200, announced he’s taking on a new short against the stock, comparing it to a sinking ship destined to be broken in half and heading towards a watery grave at the bottom of the ocean floor.
The stock is down 5.3% for the day. No word on what a certain B.A. Ackman is doing with his stake.
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I think I read somewhere Ackman is hedged on his VRX position now.
Andy Left needs to make up his mind. He came out long VRX recently. He’s getting like Gartman. I have to hand it to him however, he moved it pretty well. He has CNBC in his pocket somehow.