RE:RE:RE:negative technical eventsAre you the same Ruben12345 from SA that posted this on Dec. 2?
I'm not worried about Concordia.. this will gradually grind higher in Q116 closer to $100. Most people by then will have forgotten about the events surrounding VRX and the overall slump in bio tech. Tremendous buying opportunity
You then sold half your stake in the mid $50's, did you keep the rest or divest completely? When are you looking to buy back and then we can look forward to more cheerleading?
It seems to me that this is clearly the result of shorting on the American side. If you look at the volumes of CXRX it appears that for the past week they have been knocking out bids and pushing the price lower. The algo's taking advantage of arbitage then push down the Canadian price in lock step. Add to this stop losses getting knocked out, and a few weak willed investors pressing the panic button and you have a big drop.
The volume in CXR is light once again, and thus it is a prime target for price manipulation. Nothing has changed in this name in the past week on the fundamental side. A downgrade from a minor analyst (did they advise their clients to short before this report?) is all I see.
The fundamentals on this stock are still saying screaming buy. I am holding my stake, and will wait until the market realizes the fundamentals. These short term manipulations are nothing but noise. I bought much lower than this, but at this price am thinking of selling some other positions and buying.
I would be cautious about selling at these prices. The further this falls, the bigger the rise to come later.
GLTA
Marcel