if you don't think this will bankrupt because of its debt, I think it is a no brainer at these levels (3 FW P/E). I am personally in with $30.5 average since March 21st... BB's are currently pretty narrow and VRX has the momentum behind it. It might break out once the market calms down with the help of rating upgrades, news Ackman added to his position or any hedge funds finally deciding to get into this. They are currently working on fixing VRX's bad boy image and I think Ackman is doing a good job so far. It is definitely a risky investment to say the least but potential upside, current developments etc. are good enough for me take this risk.
False breakdown < 26 then a $10 move higher? Last time it was down here Apr 4th, it popped for a quick $10 in three days, we'll see.
I'm still maintaining a negative outlook from 24.76. Expecting this inevitably to settle somewhere around $20 until news comes out.
It seems like it is trying to establish a bottom around $25 here. I will wait for Monday to see if it can at least hold and I might get back in. I got out around $31 with a small gain after not taking profits when I had 25% gain around $38 just 3 days before it. It was annoying to say the least, but seems like it could be much worse. I think there are lots of people watching sidelines to see where it will stop to get in and it might have another run once the confidence is back. However, with all the negative media news/comments and its bad pharma co. image, debt etc. it still feels pretty manipulative/risky. Even with 2.3 forward P/E...
And here we go. It held well again at @$25 so I got back in to this POS. This time I wont be greedy and sell once I have a nice profit. Lucky me, just like happened with AAPL (after I bought last week) and Buffet, it already spiked back up to $26.5 on news that Andrew Left (Citron) is now Long... I guess this means, CNBC will soon start bashing VRX again. We will see Entry @ 25.2 Stop loss @23.8 Trimming Target:29.9
Nice close! The short seller that helped bring down Valeant has now invested in the company http://finance.yahoo.com/news/short-seller-helped-bring-down-193940102.html
"The noted short seller and head of Citron Research told The Street's Real Money blog that he has taken a stake in the troubled pharmaceutical company even though he still has some out-of-the-money puts, a type of short position." Now is he long because he is hedging or because he feels this is going to make a wild move higher?
I have no idea what will happen after Yellen speaks today. So I Sold 25% just now @$29.30 for more than 16% gain in 11 days. I couldnt wait for my initial $29.9 target.
Valeant Pharmaceuticals receives default notice Lenders warned Valeant Pharmaceuticals that it has defaulted on certain debts after failing to submit a public filing, giving the embattled drugmaker two months to rectify the matter. Read full article here: http://www.msn.com/en-us/money/companies/valeant-pharmaceuticals-receives-default-notice/ar-BBtPbA5
Listen price doesn't lie, bottom line street viewing this as negative at this moment, but still early.
Probably I shouldnt have done it but I removed my stop loss ... I was afraid they were going to use this Q as a kitchen sink but I also had FOMO so I stayed with my remaining position pre-earning. Papa actually gave a heads up before saying he is under promise/over deliver type of guy... And the guidance seems to be reflecting that. We will see if he can "over deliver" for upcoming quarters... Even though it was hard to resist, I was also afraid to buy even more on $22 levels... Thankfully retail did not panic too much after PM sell off. It might bounce back from here or drop more next two days... If it does, I will probably add more at some point...
Reported before open today (6/7/16) Earnings: EPS $1.27 Revenue $2.37B Estimates: EPS $1.37 Revenue $2.38B Down 14.59% today
