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Valeant Crashes Back Below $100 As Quebec Regulator Begins Investigation
Just when you thought it was safe to BTFD, Valeant is re-crashing. After bouncing back yesterday afternoon, reportedly thanks to Ackman "buying millions more shares," news this morning that Quebec's regulator is watching the Valeant situation "very seriously" and said in a statement that the "allegations are worrisome" and is checking to see if Valeant didn't run afoul of regulations, has prompted more bloodbathery in the stock, now down over 16%...
- *QUEBEC REGULATOR AMF COMMENTS ON VALEANT IN E-MAILED STATEMENT
- *QUEBEC'S AMF SAYS IT'S WATCHING VALEANT SITUATION VERY CLOSELY
- *VALEANT ALLEGATIONS ARE 'WORRISOME': QUEBEC REGULATOR AMF
- *AMF CHECKING TO SEE IF VALEANT DIDN'T RUN AFOUL OF REGULATIONS
Charts: bloomberg
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Is this other peoples money this Ackman has been pissing away?
That's what I'm thinking. He doesn't give a shit!
Valiant effort; for not...
Too bad they are not part of he Plunge Protection Team.
sarc off//
exactly, 2016 will bring another summer in the hampsteins, kvetching about the help...
Cramer says that if you liked it at $200 you'll love it at $90.
http://www.thestreet.com/story/13056503/1/jim-cramer-on-valeant-this-is-...
I add Cramer to my list of people to launch into space in shoddy and explosive rockets ...
https://www.youtube.com/watch?v=iKS-pcyNERQ
I hate to defend Cramer, but if you had gotten in when that article was written and gotten out at 240 (which is where he said it was heading), you would have made a nice profit.
True. Was $175 in Feb and peaked in early August at $262.
Has anyone ever seen Ackman crack a smile, ever? If so is there photographic evidence of it?
(Cr)ackerman. Yup, he'll crack if he smiled...
I just soiled my pants.
In at $224, now stopped out on margin call at $96
Thanks Cramer you fucking pos.
Now he will repeatedly throw VRX under the bus, adding one of his idiotic soundboard noises... typical Cramer
I'm sorry for your pain.
But, YOU got in at 224 at the top of the market and stayed in the fall until < 100 and somehow someone else is to blame?
We just invoiced some folks. What's the big fucking deal ?
If you have to have a regulator it is important that the regulating is done before and not after.
Another bloated agency that does fuck all....I can only imagine.
Who is Quebec?
/SARC/
This is one stock that should be accumulated at these levels...
Hopefully some of the clearer thinking folks on this site followed my suggestion.
#TimeStamp
How come Bill Ackman doesn't get a margin call?
According to this site his portfolio as of 6/30 of 19,473,933 shares of VRX was worth $4,326,134,000 large, which equals a price at that time of around $220 a share for VRX.
http://www.gurufocus.com/holdings.php?GuruName=Bill+Ackman
His average price when he bought the stock was $177 so his cost basis would be approx $3,446,886,141.
Yesterday he bought 2M shares for $230M which equals an average share price of $115 a share.
He's into this trade of 21,473,933 shares on a cost basis of $3,676,886,141 and at today's price of $96 the portfolio is now worth $2.061 Billion or a un-realized loss of over $1.615 Billion.
Now that's what I call a haircut.
Your post is meaningless without disclosure of his leverage.
There are no margin calls when you pay for shit in cash.
http://www.ft.com/intl/cms/s/0/f976d89a-9bef-11e4-a6b6-00144feabdc0.html
“But we look very different, we don’t use leverage, half our capital base is permanent, $7bn of which is in a public entity [Pershing Square Holdings]. We are very concentrated and have a long-term holding period, for four or five or six years”.
Ackman is taking it up hard up the ass.
As usual innocent investors take it hard up the ass.
As usual innocent investors take it hard up the ass.
Regardless of the outcome - VRX as a business model is done.
"Acquire small drugs, jack price way up, then each year jack them more to "create" earnings because insurance will pay for it" is done as a business model. The earnings only come because of the ability to extract 10-15% per year price increases from the public through insurance "spread the pain"
Turing was the leak, VRX is the waterfall that gets Congress involved. I can only hope they do not completely fold like they did in Medicare part D.
BigPharma will always win... In the USA.
Interesting.
Insurance is the purest of mankind's co-operative innovations. (sarcasm)
https://en.wikipedia.org/wiki/Medicare_Part_D
<<By the design of the program, the federal government is not permitted to negotiate prices of drugs with the drug companies, as federal agencies do in other programs. The Department of Veterans Affairs, which is allowed to negotiate drug prices and establish a formulary, has been estimated to pay between 40%[26] and 58%[27] less for drugs, on average, than Medicare Part D.>>
Quebec Regulator. Do you mean the local bike gang, or the mafia? Which one?