RE:RE:Doom and GloomUnfortunately, I agree with Lattice.
This stock will start moving up once their is something positive to report.
THERE IS NOTHING positive NOW!!
This will go to about $9-$11 and stay there until the next report in mid Nov.
PS: the CEO and CFO were shocked at the competition and how quickly it came
in after their market share. This can continue and we will have $0.
Guys PLEASE wait for $20.
Then all systems are clear.
LatticelnExile wrote: bullchart wrote: All eyes will be on tomorrow morning. Expect good volitility. Posted Friday early AM Those spelling doom and gloom Fundamentally this looks bad but I am expecting this to recover at least back to 23-24 dollars. Do we forget VXR? Loss of 336.9 million Q4 and drops from 93.40 to 44.12 (55%) on 4 million shares and finally bottomed 3 days later at 32.35 trading 5.9 million the day before. Less than a month the shares were 55% higher. CXR takes a 570 million Q2 hit , ends up at a 12.45 low on 5.5 million shares and down from 22.15 day before high or down 40%. Until the real low is found Mon or Tues, I expect 15% high low spreads which equal $$$ for traders. Caution though. CXR traded 5.5 million last Oct 21 after a 790 million note offering and then ran back up 50% in 3 days. Interesting we get this same 5.5 million shares trading. We will soon know if that 5.5 million traded was shorts covering as they did last Oct. For sure those playing puts or shorting since Jan have made big bucks. CXR had a low of 6.50 on it's open Dec 27, 2013. Because CXR did not recover the gap Sept 25, I would not be too sure it does not recover this one at this level. For sure, come Monday the Sharks will be very active manipulating the bids and offers.
CXR is actually more leveraged than VRX. There is absolutely no question in my mind that VRX will miss Q3 and Q4 and they only maintained guidance because of board pressure.
I question Concordia's complicance with debt covenants hat they reiterated on the conference call. For me, the tell was the suspension of the dividend. I mean, sheesh, we are talking $15million here towards a debt of $3.5 BILLION ? That shows me how desperate they are. If I am right, The Bell will Toll for Concordia. Not a single person left that conference call with the confidence that the problems for this company are over. Any negative impact headline news can send the stock into abyss and can be fired by the media at any time. The 6 year bonds broke $80 Friday so I wouldn't be surprised to see a credit downgrade. I believe there will be two scenarios that Concordia will get taken over: under CCAA of BIA.
The tell that they were going to miss was in their press release. Even when their stock was imploding, they put out a self serving press about a cvs exclusion (but something very material was happening in the background with generic entrants ... and only ten days later they would do a horrific write down? Derekli, this gives you confidence in management? What's next that investors haven't been toldl about? They could have pre-announced earnings and they didn't. That was saying that it was going to be bad. A self-proclalimed "securities Lawyer" posted numerous times on this board that their press release was equal to saying that they were maintaining guidance. I hope that smart investors are able to discern this type of BS, because it seems to me that they did a 180 on their press release. So how anyone can trust anything that this management team says or cheerlead this stock is beyong me.