Bill Ackman Is Now Valeant's Largest Shareholder As Sequoia Fund Slashes Stake Valeant Pharmaceuticals is becoming a lonely investment for Bill Ackman, the billionaire head of activist hedge fund Pershing Square Capital Management. Once a darling of Wall Street, the embattled drug company has seen many of its biggest and most supportive investors distance themselves. Read full article here: http://www.msn.com/en-us/money/comp...lder-as-sequoia-fund-slashes-stake/ar-BBtYWm5
Last but not least, Valeant is also interesting. Long with 25 avg. High 19s, low 20s, would buy, under I sell.
As long the price is out of the box bears have strong evidence to stay on the course, only take over will kill them and that can happen
VRX under pressure and may remain so for awhile but as long it's above 20 there is hope but if it breaks below that level don't know W-next
I bought back the portion (25% of original investment) I sold as it filled my order @23.30. New average is now around: $24.7 New Trimming target: $28.4 New Stop Loss: $21 --------------- Tim Papa bought approximately $5M worth of shares yesterday ($24.5 average) so it was good to see he is getting in too with his own money.
I will be a buyer under 20. This stock is too nutty for me....days of taking massive risks are over for me.
Thanks to Brexit, My stop loss triggered at $21 this morning... Good thing it did as it kept going down later in the day and seems like it will continue to do so unless they can come up with some asset sales. However due to current uncertain times and their apparent need for liquidity, I highly doubt they can sell their assets anywhere their fair value Overall, Even though it was a small position, I am kinda relieved to be done with it. -------------- I took some profits (at least whatever was remaining after today's losses) and got some nugt and more spxs after this morning's weird upward reaction to initial losses. I think we will now be on a down trend. I also assume Rate hike is off the table at least until october and any rate cut discussion will benefit gold even further. Still around 75-80% cash/bond. Will see how much this market can drop
No way I'd be taking heavy short positions down here until a sizeable pop occurred. Waiting game to get some long no rush to buy either
Gave up my hope on My July 15 $25 call as it was worthless as of yesterday, let's see what tomorrow brings.
Something might be cooking here. For the first time in 2-3 weeks rally hasn't sold back and instead it keeps going up on high volume (approximately 43M shares)
Valeant is soaring after Walgreens gave the company a huge vote of confidence Shares of troubled pharmaceutical company Valeant are soaring Wednesday afternoon after retailer Walgreens gave the firm a vote of confidence. Walgreens partnered with Valeant in December 2015 to sell its products in exchange for a 10% discount on dermatological and ophthalmological products. During a conference call following Walgreens' quarterly earnings, Co-COO Alexander Gourlay said the pharmacy was happy with the deal. "We are satisfied and pleased with the performance in the dermatology business," Gourlay said. "The volume is as we expected. And remember, this is — we are paid for the service we provide. We're not paid on the margin mix here at all. So we are satisfied. The relationship is good." Additionally, Gourlay expressed confidence in Valeant's newly appointed CEO, Joseph Papa, who took over the company in April. "We know Joe well in the past from Perrigo, where the group had a very good relationship with Joe and Perrigo, and we're in constant dialog with Joe and the management team," Gourlay said. "We do see their situation, and we're very willing to help them in a positive way." Finally, Gourlay said that they anticipated the relationship to last for a long time. "So it's early days, a 20-year contract, and from our point of view we are pleased, and we want to help our partner to be more successful in the market," he said. Following the news, shares of Valeant headed north. As of 2:40 p.m. ET, Valeant was up $2.68 a share, just over 13%, at $22.63. This comes as welcome news for Valeant after a disastrous year that included redoing the past two years of financial statements, a Congressional inquiry, the firing of multiple executives, and a stock drop of 90%. Full article: http://finance.yahoo.com/news/valeant-soaring-walgreens-gave-company-185500717.html
