Desperate Short-sellers Spread False Information o
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Posted On: 12/01/2015 12:21:40 AM
Desperate Short-sellers Spread False Information on VRX
People doing this kind of activity could face serious jail time if reported to SEC.
Shares of Valeant Pharmaceuticals Intl Inc VRX 3.84% sold off shortly after 1:30 p.m. ET on Monday.
Investors were likely reacting to unconfirmed reports that the FBI raided Valeant’s New Jersey offices.
Valeant’s stock has since recovered after the FBI confirmed the reports were false.
Valeant’s ongoing scandals has yet to be resolved, leaving investors on the edge. Sometimes, all it takes is a false Tweet to send investors into panic mode, and that is what briefly happened on Monday.
Unconfirmed reports claimed that Valeant’s office in New Jersey was raided by the FBI. Valeant’s stock sold off on heavy volume at around 1:38 p.m. ET and dropped lower by more than $1 per share.
BREAKING: FBI RAIDS VALEANT NJ OFFICES $VRX
— Big Bob #Value $VRX (@bigbobnobody) November 30, 2015
Valeant’s stock has been trading in positive territory on Monday, hitting an intra-day high of $91.21 after opening at $87.28. Following a brief sell-off after the FBI raid reports, the stock rebounded to near $90 per share.
The FBI confirmed with Benzinga that it has not dispatched any agents to Valeant’s New Jersey offices on official business.
The Twitter account linked with the Valeant chatter followed up, confirming the initial report is indeed false. The user added that there are “lots of cop cars” near Valeant’s office in Laval, Canada. Many traders have attributed this as a pump-and-dump on the stock.
@bigbobnobody false alarm. I meant Laval offices… Lots of cop cars but just local $VrX
— Big Bob #Value $VRX (@bigbobnobody) November 30, 2015
Read more: https://stocktradingoutlook.wordpress.com/201...ts-on-vrx/
People doing this kind of activity could face serious jail time if reported to SEC.
Shares of Valeant Pharmaceuticals Intl Inc VRX 3.84% sold off shortly after 1:30 p.m. ET on Monday.
Investors were likely reacting to unconfirmed reports that the FBI raided Valeant’s New Jersey offices.
Valeant’s stock has since recovered after the FBI confirmed the reports were false.
Valeant’s ongoing scandals has yet to be resolved, leaving investors on the edge. Sometimes, all it takes is a false Tweet to send investors into panic mode, and that is what briefly happened on Monday.
Unconfirmed reports claimed that Valeant’s office in New Jersey was raided by the FBI. Valeant’s stock sold off on heavy volume at around 1:38 p.m. ET and dropped lower by more than $1 per share.
BREAKING: FBI RAIDS VALEANT NJ OFFICES $VRX
— Big Bob #Value $VRX (@bigbobnobody) November 30, 2015
Valeant’s stock has been trading in positive territory on Monday, hitting an intra-day high of $91.21 after opening at $87.28. Following a brief sell-off after the FBI raid reports, the stock rebounded to near $90 per share.
The FBI confirmed with Benzinga that it has not dispatched any agents to Valeant’s New Jersey offices on official business.
The Twitter account linked with the Valeant chatter followed up, confirming the initial report is indeed false. The user added that there are “lots of cop cars” near Valeant’s office in Laval, Canada. Many traders have attributed this as a pump-and-dump on the stock.
@bigbobnobody false alarm. I meant Laval offices… Lots of cop cars but just local $VrX
— Big Bob #Value $VRX (@bigbobnobody) November 30, 2015
Read more: https://stocktradingoutlook.wordpress.com/201...ts-on-vrx/
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