Sellers Will Save In The Short Term, Longs PrevailThis stock has been bouncing around north and south of $1.80 for a while now, and after a big deal which the market needs to dissect, it's pretty natural for a stock to go down.
I think this is an opportunity and I've bought in. I can't decide whether all these pharma companies are selling at a discount right now, but I do think that my money is safe around $1.80 with a lot of chance for upside as opposed to losing money.
All the analysts have targets signifigantly higher than right now, and we just got (arguably) good news. We know a lot of Canadians have money sitting on the sidelines waiting to put in the market, and international investors will at some point be looking at growth stocks in Canada to take advantage of the currently low dollar; everything in Canada is at a discount.
As for those who think oil is going to be a happier story, where do you see this getting better with NOBODY who's unprofitable willing to throw in the towel until bankruptcy?