Holy moly! I hit the lotto! (sort of)

[Fermion]

Those of you may remember I was discussing Endocyte and if there was a way to take control of them when they were trading at $1.20 a share and had $2.77 in cash on hand.

I didn't pursue it any more than just buying 40,000 shares.

Today I wake up and the stock is $2.69 and going up. My account shows daily gain of $55,600.

Last time Endocyte had a phase 3 drug they skyrocketed to $30 a share.

Do the math!


I am going to be in trouble with my subsidized ACA...

 

[Jerry1]

Take your original amount off the table with some profit and let the rest ride. Of course if you think it's really going to $30, maybe dollar cost average out of it for a little while.

 

[Fermion]

I sold 10,000 shares at $2.68 this morning which gives me exactly what I need to meet my ACA magi this year (no IRA conversions will be needed). I am letting the rest ride. I imagine I will have some regret later this week when it is $6 a share.

 

[daylatedollarshort]

That is really exciting. I hope you get your $30 a share!

 

[Running_Man]

There is also the issue of the mysterious financial agreement that the SEC has ruled for secrecy purposes does not have to be revealed to the public. Would be interesting to know what is in that and perhaps that is why management has been funding the corp

So now we know 13 million in cash and 6 million shares (1/7th of the company) in exchange for a purchase of a Phase III prostate cancer drug -- it is the definition of a corporate lotto ticket and investors appear to want in! Basically Endocyte says they are winding out of all their other drugs to focus on this one drug.

 

[EvrClrx311]

Chart looks so similar to a pipeline I was following a few years ago for a cancer vaccine that had signs of effectively reducing recurrence by 50% in breast cancer survivors... I wanted to see them succeed for so many reasons. It was a fun one to track.

They are a wild ride... but if you invest intelligently (see unemotionally) you can really make a lot off of these. Through a series of selling above $2.50 and buying under $1.50 over and over (it seemed to cycle over a few years between those ranges) I managed to get my holdings up to 50,000 shares. Near the end of their Phase III trials and talks of it headed to $35... it was valued around $2.70 and slowly inching up as the date approached. Then overnight it sunk to $0.24 when the results for Phase III barely missed what they needed.

I was able to get out what I initially put in, but it was a sore morning seeing so much realized potential evaporate overnight.

 

[Fermion]

Maybe sold that 10,000 shares too early. The stock went up another $0.50 and is now around $3.30.

I am looking at some pretty big gains on the remaining 30k shares. Maybe at $10 a share I can go Wheeee!?

 

[Fermion]

Ack, it is closing at $3.70+!

If I had not had internet access today I would have made another $12,000 by not selling some shares.

I have never been in a rocket ship like this before. Fun! I can see this getting addicting.

 

[Blue Collar Guy]

I sold 10,000 shares at $2.68 this morning which gives me exactly what I need to meet my ACA magi this year (no IRA conversions will be needed). I am letting the rest ride. I imagine I will have some regret later this week when it is $6 a share.

1- I never heard of this stock
2- I think you win the best stock pick of the year
3- I understand not wanting to lose ACA subsidies, but how does one evaluate
maximize earnings vs loss of ACA help. I dont use the ACA so I dont know
the ins and outs, but one would think If I get 10k a year in subsidies and I
can earn 15K with a few clicks of the mouse I would take the 15 and pay
taxes I would be a winner.

Again you hit the lotto , I bet a lot of research went into it, and you found a winner. congrats with the other 30k shares, I hope it goes thru the roof,I like success stories. If i bought 1 share it would tank so I wont touch it.

 

[dixonge]

$4.37 in after-hours trading! Zowie!

 

[Blue Collar Guy]

Now to play devils advocate, I have been giving this situation some thought. You sold a certain amount of stock to stay below the ACA limits. Had you not worried about losing the ACA you might have sold more. Thus have ACA subsidies in your case might have earned you a bunch more.

Either way its a home run, picking a winner like this is what dreams are made of.

 

[Blue Collar Guy]

Chart looks so similar to a pipeline I was following a few years ago for a cancer vaccine that had signs of effectively reducing recurrence by 50% in breast cancer survivors... I wanted to see them succeed for so many reasons. It was a fun one to track.

They are a wild ride... but if you invest intelligently (see unemotionally) you can really make a lot off of these. Through a series of selling above $2.50 and buying under $1.50 over and over (it seemed to cycle over a few years between those ranges) I managed to get my holdings up to 50,000 shares. Near the end of their Phase III trials and talks of it headed to $35... it was valued around $2.70 and slowly inching up as the date approached. Then overnight it sunk to $0.24 when the results for Phase III barely missed what they needed.

I was able to get out what I initially put in, but it was a sore morning seeing so much realized potential evaporate overnight.

You took a shot to make it big, I like that idea. I rode things into bankruptcy trying to hit it big. But at least we tried.

 

[street]

WOW! I hope it gets to $30 for you.

 

[kite_rider]

Sweet move! Tell us about some other stocks you like.

 

[MarieIG]

Great news!

 

[Dreamer]

Wow! Happy for you. Hope it keeps going up.

 

[Fermion]

Sweet move! Tell us about some other stocks you like.

Hah! I would not suggest that I am some stock guru now. I just got lucky although I have been following this stock for quite some time and posted several threads about it.

That being said, I did get an private message from a ER.org member who saw my posts and bought 15k shares and booked a $12,000 profit today. I keep her/his name anonymous but I was shocked that someone would do something like that. I am very glad it worked out well and told them to buy themselves a steak dinner!

 

[LOL!]

And I wasn't the anonymous poster. I will just live vicariously through your trades. Congrats!

 

[kite_rider]

Hah! I would not suggest that I am some stock guru now. I just got lucky although I have been following this stock for quite some time and posted several threads about it.

Well, I'd credit you with more than dumb luck. I personally don't have the patience or attention span to analyze a 10K even for a viable company, much less one that becomes a 'penny stock'.

However, I love to pick up on the sage wisdom from those who spot opportunities in otherwise risky situations.

 

[Texas Proud]

The one thing that I will ask if how many others like this have you bought that you lost money on?

I am happy for you this is hitting, but if you are like someone who gambles they just talk about their winnings and do not mention all the losses.

 

[Fermion]

The one thing that I will ask if how many others like this have you bought that you lost money on?

I am happy for you this is hitting, but if you are like someone who gambles they just talk about their winnings and do not mention all the losses.

I lost about $5,000 on Seadrill (I think a few of us did on here) but got out in the $20's instead of holding it to what, $0.25 today?

I first bought Gilead in the $80s and for awhile I was down several thousand (as others on here did too) but it has come back nicely and I bought some in the $60s and sold covered calls.

I at one time bought quite a few shares of Vanda at $4, when it had $6 in cash but got tired of holding it after a year and sold it. A few months later it went to $17.

And one of the biggest misses, I had $100,000 face value of mining company bonds paying 12.5% and bought for just $25,000. I sold them at $40,000 and just two weeks later the company was bought and they were redeemed at 100% of par plus six months interest.

 

[RetireAge50]

Fantastic so far! Hope you make a million!

 

[Texas Proud]

I lost about $5,000 on Seadrill (I think a few of us did on here) but got out in the $20's instead of holding it to what, $0.25 today?

I first bought Gilead in the $80s and for awhile I was down several thousand (as others on here did too) but it has come back nicely and I bought some in the $60s and sold covered calls.

I at one time bought quite a few shares of Vanda at $4, when it had $6 in cash but got tired of holding it after a year and sold it. A few months later it went to $17.

And one of the biggest misses, I had $100,000 face value of mining company bonds paying 12.5% and bought for just $25,000. I sold them at $40,000 and just two weeks later the company was bought and they were redeemed at 100% of par plus six months interest.

Good to hear... hope it goes up and up...

 

[Fermion]

Pre market is showing $5.71!

Since I am last place on the beat Boho thread, I am going to buy Endocyte in there with whatever I have left. If it goes to $30, I definitely beat Boho.

I wanted to buy it in that contest when it was $1.21 but the daily volume on the stock was around 100,000 shares total lol. You could only buy a small fraction of the daily volume per contest rules.

But yesterday 53 million shares were traded.

 

[Fermion]

The chart of this account (which was recently moved from optionshouse to e-trade when they got bought) looks like an ideal diode LOL!