AKRX - what do you guys think?

[sirsavesalot]

I'm a total market type of investor and have only purchased a handful of individual stocks in my life. Most of them did well, but it was purely luck. I'm not very savvy when it comes to this stuff, and stumbled upon Akorn stock and was shocked at its current price.

I did a bunch of contracting work there in Illinois about 8 years ago and the place was booming. Stock was around $50/share, and now it's trading for close to $0.20. Is there any hope for this stock, or should I stay far away?

AKRX

 

[finnski1]

I'm a total market type of investor and have only purchased a handful of individual stocks in my life. Most of them did well, but it was purely luck. I'm not very savvy when it comes to this stuff, and stumbled upon Akorn stock and was shocked at its current price.

I did a bunch of contracting work there in Illinois about 8 years ago and the place was booming. Stock was around $50/share, and now it's trading for close to $0.20. Is there any hope for this stock, or should I stay far away?

AKRX

Stay away. About to file for bankruptcy.

 

[brokrken]

I'm a total market type of investor and have only purchased a handful of individual stocks in my life. Most of them did well, but it was purely luck. I'm not very savvy when it comes to this stuff, and stumbled upon Akorn stock and was shocked at its current price.

I did a bunch of contracting work there in Illinois about 8 years ago and the place was booming. Stock was around $50/share, and now it's trading for close to $0.20. Is there any hope for this stock, or should I stay far away?

AKRX

https://seekingalpha.com/news/3557098-akorn-defaults-on-loan-shares-down-20-premarket

 

[atmsmshr]

Announced they are seeking bankruptcy protection before 1 May.

https://seekingalpha.com/news/3557098-akorn-defaults-on-loan-shares-down-20-premarket

 

[petery129]

Stay away. About to file for bankruptcy.

I agree

 

[jazz4cash]

https://seekingalpha.com/news/3557098-akorn-defaults-on-loan-shares-down-20-premarket

Is this link to an SA premium site? When I search for ARKX on my free version the most recent article is from December when they warned of possible bk filing.

The redesigned SA looks really slick but seems to be inconsistent and lacks substance. Very few free articles anymore. You can read the premium articles but not the comments ( so the comments really are the most valuable info?). I could never justify 30 bucks per mo or whatever it costs for premium.

 

[OldShooter]

... shocked at its current price. ...

There are lots of arguments about the Efficient Market Hypothesis, but it is a very good going-in assumption.

 

[brokrken]

Is this link to an SA premium site? When I search for ARKX on my free version the most recent article is from December when they warned of possible bk filing.

The redesigned SA looks really slick but seems to be inconsistent and lacks substance. Very few free articles anymore. You can read the premium articles but not the comments ( so the comments really are the most valuable info?). I could never justify 30 bucks per mo or whatever it costs for premium.

I don’t have a premium account, but I do have a normal free account. Perhaps you need to register to see it.

 

[jazz4cash]

I have an account. I need to register too?

 

[sirsavesalot]

Up 85% from when I posted. I was going to drop $10k on them. SOB!

 

[njhowie]

Up 85% from when I posted. I was going to drop $10k on them. SOB!

Let's be clear, it was a one day gain on no news, with 125% of the float trading on 25x average daily volume. Clearly it was little more than a pump and dump. Happens all the time with stocks like this which get down to pennies. In all likelihood, after a couple more days of the latecomers trying to get in on the party, volume will trend back to the average, and the shares will be right back at 20 pennies or lower.

Now, there's absolutely nothing wrong with that. Maybe you would have been prescient and sold at the point of the 85% gain. However, seeing that the shares were up almost 150% just an hour earlier, would you have held thinking/hoping it would go higher again? If not, by end of day, you had lost a chunk of that 85% gain, ending up 35%.

There is certainly money to be made in this market as volatility is extremely high these days. If you've found an angle, take advantage of it while it is there. Taking a poll and seeing what others think is not the way to go. If you've done the research, know what you're getting into, who cares what anyone else thinks?

 

[OldShooter]

... There is certainly money to be made in this market as volatility is extremely high these days. ...

Yes. The more volatile the stock, the easier it is to get lucky. Then you get to boast on the internet. The slight majority who do not get lucky, don't post.

It's not a lot different from the casinos, except there you know what the odds are, and manipulations like pump and dump do not exist.