RE:How low will it go?$0, $10, $20 are all possible. Yes. But any credible trader will tell you not right now and not right away.
Anyone who says $0 short term is a clown, idiot or scammer (and on SH, there's a overwhelming majority of "pro" 2bit traders that are all three! They are my fan club! Watch for them following me here). LOL
Now, if Valeant was am "empty garage" with zero sales and nothing behind it, yes. It could net halted and never trade again. But that doesn't happen on a large cap. It's a long drawn out process.
This is a real company, real people, real products.
The company is fully operational, just very wounded and with zero credibility with the investment community at the moment.
It's 100% negative sentiment. Because they've made some serious mistakes and continue to make them. Markets say at some point "enough is enough". That's what we saw.
That's why an ultra contrarian swing trader like me is here.
:-)
I make a fortune on shorting these days without having to short myself, get my hands dirty or take any risk....
The nice thing about VRX is the fact that I could forget my tiny position here and look at it in a year with great gains. But I'm in the market to make short to medium term swing trading gains.
I'll leave the long term investing to the mass public who simple don't have the skills, experience or intelligence to trade aggressively. I do.