steve, investor's expectation on those under-cash biotechs are very low, I was paying less than $4 for $5.5 cash with zero debt, plus all the Ph.Ds, MDs research results/patents in the past couple years, multiple phase II cancer drug trials. It has the cash to burn for another 4 years, I am taking a calculated risk and willing to give them a try. I guess I just see the "value" differently than some other people. I am perfectly happy to see some people just think those cash-burning companies will continue to burn it to zero, they gave up, throwing the baby out with the bath water, and that is usually the best time to buy. Considering other people paid VICL for 20, 15, 10, it is a steal for me at 4.
By the way, did you notice those under-cashed stocks were going up fast in the past two months? people realized the value and buying them up. There will no longer be many left in the next month or two.
Market took a dive before close, VICL stay up 10.6% for the day. Some big buyers absorbed all shares selling at 4.65 and wanted more. It is a new technical support base. I won't chase the stock but have limit buy order at 4.65. I am a patient guy, always buy stocks on the lower bound of price range. I am happy to get more at that price if lucky tomorrow. |
