The market has no idea of how well trials with the sublingual tablet or psoriasis cream will go. Nor does the market have any idea how many countries or states will legalize cannabis over the next few years, or if the U.S. Govt. will reclassify it rather than fighting with the State's, and Congress over who can do what.
If you believe that because a stock is trending down it will do so forever because that's what the market is saying, how do you explain any company that's now trading at near it's 52 week highs, but which had 52 week lows that were dramatically below that high.
Last year I told people that IMGN, which hit lows not seen for roughly 10 years was a screaming buy at those lows. It's lowest was $1.51, I bought substantially more at $2 and $3. While it's 52 week high reached $8.84 and it's currently at $6.76, I still believe it will close the year well into double digits as year end conferences reveal more about its drugs in trials. By your logic, no one would have invested at the lows, and of course they'd not have tripled or better their money by now.
I certainly don't know how low OWCP may go, but it it's substantially lower than it is today, I'll probably average down again. In time trial news will be out, and in time product sales will begin. I don't believe that you can say that any of their products don't have blockbuster potential. Even if they partner and their royalty rates are just high single digits, they'll still be bringing in hundreds of millions annually. Of course if they wholly own one or more of their drugs they'll bring in a lot more, but naturally their up front cost will be far higher, it's not something they can do until at least a couple products are already in the marketplace with substantial sales.
For now, I await trial data for the psoriasis cream, which I believe will be positive and boost the stock price to $1 or more. After that I believe the next step will be additional partnerships for a variety of countries, and States, or a single one covering ROW.
Time will tell, by your theory it will just keep going down, because it's going down with no real news. By my theory their will be news, it will be good news, and the price in time will make new all time highs.
Gary
If you believe that because a stock is trending down it will do so forever because that's what the market is saying, how do you explain any company that's now trading at near it's 52 week highs, but which had 52 week lows that were dramatically below that high.
Last year I told people that IMGN, which hit lows not seen for roughly 10 years was a screaming buy at those lows. It's lowest was $1.51, I bought substantially more at $2 and $3. While it's 52 week high reached $8.84 and it's currently at $6.76, I still believe it will close the year well into double digits as year end conferences reveal more about its drugs in trials. By your logic, no one would have invested at the lows, and of course they'd not have tripled or better their money by now.
I certainly don't know how low OWCP may go, but it it's substantially lower than it is today, I'll probably average down again. In time trial news will be out, and in time product sales will begin. I don't believe that you can say that any of their products don't have blockbuster potential. Even if they partner and their royalty rates are just high single digits, they'll still be bringing in hundreds of millions annually. Of course if they wholly own one or more of their drugs they'll bring in a lot more, but naturally their up front cost will be far higher, it's not something they can do until at least a couple products are already in the marketplace with substantial sales.
For now, I await trial data for the psoriasis cream, which I believe will be positive and boost the stock price to $1 or more. After that I believe the next step will be additional partnerships for a variety of countries, and States, or a single one covering ROW.
Time will tell, by your theory it will just keep going down, because it's going down with no real news. By my theory their will be news, it will be good news, and the price in time will make new all time highs.
Gary
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