There won't be enough time to react tomorrow morning with shorts covering, funds buying back, new longs piling in, lol!
This goes back to $25-$30 range by year end. As always, sad I didn't buy more at the bottom, but was 45,000 shares deep in this :/
I will bet it rebound on the future. As the Chinese proverb says: 'A starved camel is still bigger than a horse'
Generic medicines gross profit declined 27% compared with the year-earlier period, the company said, and specialty medicines revenue slumped 1% compared with the year-earlier period, including a 7% decline in revenue for Teva's popular multiple sclerosis drug Copaxone, which is now facing generic competition.
Too many people constantly flipping between short and long, no balls or commitment to either. Teva will shake all these amateurs out.
Teva Shares Pop After-Hours on News of Berkshire Investment -- "Berkshire Hathaway purchased 18.9 million shares of the drugmaker, according to its 13F filing...." https://www.thestreet.com/story/144...stment.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
More upside here today American depositary receipts of Teva Pharmaceutical Industries Ltd. (TEVA) rose 6.6% after Berkshire Hathaway disclosed an investment in the drugmaker. A filing from Berkshire showed that the company had purchased 18.9 million Teva shares worth a total of $357.695 million in last year's fourth quarter.
The generic market is highly crowded and Teva faces competition from players like Mylan, Dr. Reddy’s, and Sandoz among others. Competition is fierce as generic companies strive to be the first to launch a generic version once a brand product loses exclusivity so that they can capture significant market share. Once additional generic companies enter the market, market share, revenues and gross profit typically decline.
Copaxone and Austedo sales are exceeding analysts' expectations. Also, the company's cost-saving efforts are noticeable. The management estimates it can still launch chronic migraine drug fremanezumab by year-end following potential near-term resolution of regulatory issues at API manufacturer Celltrion.
This sell off is hitting a support level I had set an alert for. Anybody else looking to go long soon?
The stock is going down... not sure this is the moment to buy. Perhaps wait a bit more. Good news, but the stock is down >8% ! Why? I have not been following it, but just noticed it.
