MSD was overvalued in my view.and remains so, even at 27.00.
I do recall that Skip MSD bought at 10-12 dollars as an investment with some of the cash a couple of years ago.
He sold about a year later when it hit $19-$20 claiming that it was fully valued at that point. The rest of the rise was hype in my view without much foundation. Ever since MSD bought that patent portfolio out from under WIN 4 years ago and paid 75 mill for it, vastly overpaying just to beat out WIN in the bidding process, I have wondered about MSD and its mgmt. Since then, they have changed most of their key people, but still they are saddled with milking that sad patent portfolio trying to get their money back.
It would seem that the chickens have come home to roost on that one.
I trust Skip;s judgment on that one. So if any merger is on the track, you know what Skip values MSD at and it is not quite down there yet, but going in the right direction.
Interesting times.