RE:Shares are setting up for a huge move upI agree. I think the anemic volume shows that there are very few sellers at these levels while would be buyers are waiting for a positive catalyst to jump in. The strategic review likely took quite a few twists and turns during the last few months for obvious reasons. That said, during the Q2 conference call, management made reference to the fact that the full Board was engaged in reviewing one specific opportunity and another statement was made about a new partnership. If an opportunity makes it to the full board from a strategic committee, that normally means it is pretty far along in its considration.
All of this leads me to beleive that the company is likely going to announce something soon. I doubt it will be a straight out take over given management's statementsl. I think it is likely to be more of strategic type of new commercial relationship that will leverage the Company's international distribution platform. Think of a company that has a good portfolio of drugs in North America, but no or expensive sales and distribution channels in Europe. That is the type of strategic initiative that Concordia should execute at this time as it will require minimal investment and potentially interesting incremental revenue.
I have no crystal ball as the shorts suggest they do, but I am optomistic going forward and sincerely beleive the worst is is in the rearview mirror for us longs.
fundtrader wrote:
being patient and buying more on dips could create significant returns for shareholders. Shorts need to cover 13 million shares or 30% float. I see accumulation here. Strategic review news should be out shortly. I think announcement should happen early next month.