RE:RE:RE:9 billion
Negative, no short. No skin in this game anymore. I was very tempted to though when I saw it climb to over $1 so quickly. It was 100% guaranteed to pull back regardless of headline risk. On that topic, yes the pumpers are out in full force. Yahoo Finance is a classic example. The Outrageously bullish comments based on no facts have a permanent placeholder near the top of the board. I tried placing some a comments to restore some sanity to the board but do you think those comments ever appeared? Not just this stock either. This shows that the market is rigged now more so than ever. There is definite collusion ongoing now. Yahoo Finance should be investigated, but they won't be. Its unfortunate that the market has truly become a casino with a vast cadre of news players (millenials) who are desperately attempting to hit the jackpot. Most (90%) will fail. They make their bets based on very poor information. For instance ACST; 1. Is in the red zone for remaining cash, 2. Hasn't provided any meaningful updates regarding their supposedly ongoing analysis of secondary endpoints re Phase 3 trials or their supposedly ongoing strategic review. This should have been completed by now, yet no official word. Why? There was also never any update on who had been let go (not including officers) and how may employees they have remaining. 3. Has a management team that has decidedly and consistently acted in their own best interests and not the shareholder's interests and seems to be continuing to this very day. I have no doubt that they are desperately attempting to find a partner. If found, that will be their only accomplishment (not success) in how many years of operation? That deal will not be as lucrative as many are hoping but as long some 'option' value can be salvaged its all good right? Many a CEO has sold a company for far less than it should have been for personal gain. CryoCath is a perfect example. Was sold in Aug of 2008 to Medtronic for a swan. CEO made out well, the shareholders not so much. IMO (and many others) stock should have been sold for at least 50% more as it was a fantastically innovative company and was beginning to make a profit and thus some leverage. But turns out management and the board were lazy and it was much easier and more lucrative to cash out. This was the dawn of the financial crisis which is still ongoing today - millenials just don't realize it. Unfortunately ACST has virtually no leverage as I really do not believe there is an appetite to conduct another Phase 3 trial under a different protocol by any potential partner. The product is expensive to manufacture and the cost to eventually get this to market (especially as a supplement) not worth it . There are too many competing players in the field. Fact is, ACST arrived to the party far too late and by completely messing up their Ph3 trials made the situation much worse. They ran out of time long ago and are now almost out of money. There is your Strategic Review (did it in 30 secs). Its really unfortunate but one's success in business or playing the market is primarily dependent on timing. It doesn't matter how 'right' you may eventually be proven to be if the timing is missed you fail. Another reason I don't take a short position - the timing must be perfect and you better be 100% sure the reason you are going short is sound. You have to be certain (in other words have insider info).