Oh gawd, my little rat dog ORXE is down to 40 cents
a share now
As of March 31, 2008, the Company had $23.7 million in
combined cash, cash equivalents and marketable securities
available-for-sale This has a marketcap of $13M and is
at a 40% discount to cash (it has usually remained at a 25%
discount, even as it trends down). So this sucker has had
me trapped under the ice even as the water is drained out
of the pond, what a nightmare.
It doesn't feel as bad as the Ariad death spiral, well,
because that ended well for me, ha. But this is really
lousy. Now, I'm not going to do what I did with Ariad--
sell half my shares the very day before things began
their turnaround. I can actually afford for ORXE to go
to zero--so I'm not doing anything. No more averaging down
for sure, but I wont take my lumps and move on either.
I'm not fooling myself, I put ten grand into Global Crossing
and that went to zero, it does happen.
But it still stinks, and I do hang my head in shame.
There just isn't any way I can not look like a complete
dope hanging on to this over this past year. Gosh, I have
shares that have lost a dollar from a $1.40 now, that is
really just about as bad as it gets. Thanks to this turkey,
my wife's account has lost ten grand--and of course
I destroyed my kid's accounts with this stock. Gene Logic
paraded out all those pharma names last year--I guess that
really snookered me.
Anyway, sure seems like real money, lost on paper, but
possibly gone for good. What a shame.
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