RE:Reality
Although I have to agree that we must stick together, we have to pick our leaders.
At this point the current CEO has made serious mistakes and I have gone from blaming the shorts to putting the blame 100% on the CEO and CFO. At least right now, depending on how the stock price changes, I might include other parties which are directly connected to this company.
When I purchased CXR at much higher prices. The CEO blamed the short sellers although they were just his scapegoats. The short attack but the spot light on this and make people discuss who was selling but only a few really discussed why the short thesis was getting stronger. We all ignored it because we were focussed on rosy promised of high growth, high gains and endless cashflow. That is all a dead dream.
It turns out, short sellers are not the root cause. In fact the many vocal, truthful and vocal short sellers here have demonstrated they were right and provided very factual information and predictions. They backed opinions with facts, not fluffy and ignorant "hopes" and "wishes".
You cannot "hope" success on the markets. Let someone else manage your money if that is what you do.
In this case, the games appeared to be so severe that even professional, well known investors were fooled. The press was massively fooled.
You can bet that large holders will sue Concordia hard and I won't disclose how large I was.
These suits against specifically the CEO and CFO will get a lot of attention. The first appearance being early October. Some of these cases are moving fast for a reason. They might have a mountain of evidence especially with whistleblower information.
I had to make a few key phone calls on this stock and cut my loses. Hard thing to do but the money is gone. Every credible poster here supports this.
I am now shorting with half I ended up with and places the rest on a great candidate..
I wanted to sue the short sellers, now I want to sue the people directly responsible for this crash.
The stock price will end in rumble. The company and assets will likely survive, owned by private equity out of reach to most investor here. Best to find another horse FAST!
If you hold a short position, you will do well. If you hold a long position, you won't. The bond market and amazing uncertainty confirms this.
It can be an expensive lesson and one that will keep you away from the markets for years or forever. It's a hard lesson. All the experienced investors have suffered it. It's part of "right of passage". If someone you know close told you "if's a sure thing", ask them why. Ask yourself why you bought into this stock and what you would do different.
To all true honest bulls here, the victims, I suggest you stop suggesting that people "average up" when they should be researching and analysing.
Either moving their money sideways or decide to short "in company". There are a few people I follow here which I won't mention since I wish to respect who they are but I will be vocal. Being critical yet polite and civil is important to healthy discussion. Put all the jokers and time wasters on ignore and don't respond to them.
I have a question for you Marky1: Are you really an owner in agony or are you paid to be here?