RE:RE:RE:RE:RE:RE:RE:RE:fundtrader, how many shares are you long?CRX is going to retire a lot of their older drugs, and introduce new drugs to replace the old ones. We will hear more about this in the ER.
On the debt, CXR is being PRICED at BK. The MARKET is pricing that in. However, they just issued senior notes. Bankruptcy isn't a concern RIGHT NOW, future BK is ... there in lies the opportunity in CXR. This is also why it's down like 30% since issuing the notes and strengthening the balance sheet.
Short's shouldn't get to complacent in this ... even the most realible trade can turn rotten. LB bank actually called for a $3.50 USD PT after the senior notes were issued. We are there now. Only CIBC and a few more people think it can go to $2.50 USD. Sellers are drying up ... we are near the point of CAPITULATION which is always go to see. I just started looking at CXR now and I find it hilarious that people honestly paid $30, $40, $100 a share for this ^_^ ... that being said it's not going to ZERO.
On the upside we could see $6 - 9 USD in the next 6 months. It is in MGMT interest to raise the price there to do a SHARE OFFERING to further strengthen the balance sheet.