In October Valeant Pharmaceuticals stock fell by 40% when Citron Research, a short seller, accused the company of using specialty pharmacies to inflate their revenue. The company denied the allegations but the damage had already been done. The short seller has claimed another victim: http://www.businessinsider.com/mallinckrodt-stock-dives-after-citron-tweet-2015-11 Do you think most pharma stocks are overvalued?
I bought a little Valeant recently after it dropped like a stone from $250 to around $100. But I think most novices who have limited time and limited money to devote to investing should stay clear of these highly speculative and much-maligned stocks. I do love biotechs myself though in modest amounts. But I'm highly diversified on these, and I do watch them like hawks: HoldingCurrent Price $Share BalanceMarket Value $Portfolio Weight %SPHS| Update Ticker2.93000.00000.000.00
Transaction DateTransaction TypeDividend Per ShareShares TransactedShare Price $Split RatioCommission $Transaction Value $Share Balance4/14/2015Buy108.00000.92590.00100.00108.000010/27/2015Buy108.00000.71000.0076.68216.000011/10/2015Sell216.00002.55000.00550.800.0000
That's SPHS. I bought 108 shares at $.9259 a share in my growth portfolio on 4/14, and another 108 shares at $.71 on 10/27. I then sold them all today at $2.55 for a profit of nearly $375. I also had that same stock in my speculative value portfolio. I bought 147 shares in this portfolio on 5/13 for $.6802, and sold them today in this portfolio for $2.60 for another profit of nearly $300. I just wish I'd bought far more of this one. Transaction DateTransaction TypeDividend Per ShareShares TransactedShare Price $Split RatioCommission $Transaction Value $Share Balance 5/13/2015Buy147.00000.68020.0099.99147.000011/10/2015Sell147.00002.60000.00382.200.0000
Here's AGN: Transaction DateTransaction TypeDividend Per ShareShares TransactedShare Price $Split RatioCommission $Transaction Value $Share Balance3/21/2014Buy14.0000214.28000.002,999.9214.000010/29/2015Sell14.0000312.83000.004,379.620.0000
CYTK: 2/25/2015Buy385.00007.79000.002,999.15385.00005/1/2015Buy385.00005.73000.002,206.05770.00007/30/2015Buy385.00006.06000.002,333.101,155.000011/2/2015Sell1,155.000010.25000.0011,838.750.0000
NWBO: Transaction DateTransaction TypeDividend Per ShareShares TransactedShare Price $Split RatioCommission $Transaction Value $Share Balance10/17/2015Buy100.00004.21000.00421.00100.000010/21/2015Sell100.00005.41000.00541.000.0000
FOLD: Transaction DateTransaction TypeDividend Per ShareShares TransactedShare Price $Split RatioCommission $Transaction Value $Share Balance 10/3/2015Buy78.00006.39000.00498.4278.000011/2/2015Sell78.00008.41000.00655.980.0000
HRTX: Transaction DateTransaction TypeDividend Per ShareShares TransactedShare Price $Split RatioCommission $Transaction Value $Share Balance9/28/2015Buy100.000026.04000.002,604.00100.000010/14/2015Buy100.000021.98000.002,198.00200.000010/28/2015Sell100.000026.85000.002,685.00100.000011/2/2015Sell100.000030.53000.003,053.000.0000
A little nibble of TRIV: 9/8/2015Buy21.00004.58000.0096.1821.000010/27/2015Sell21.00006.70000.00140.700.0000