Apr. 10 at 9:08 PM
$FBIOP The price of this is remains fundamentally retarded and detached from reality.
Day 0+1m on the suspension, this was trading in the 6.60 dollar range. There was only 19 cents accrued to the arrears, so the spec value was 6.41. (August 2024)
Now, there are 21 months of accrued dividends, totaling 4.10 per share, and a sold PRV for 100m in proceeds to
$FBIO... and the spec value now is 9.58 (
$13.68 less the
$4.10 per share)
If the market is valuing the arrears as good money, that means its valuing the share itself as only 38.3% its full value (9.58 out of 25 dollars).
The only way this price remains fundamentally retarded and detached from reality, is if Lindsay Rosenwald is fundamentally retarded and detached from reality. Either the capital markets are retarded, or Lindsay Rosenwald is.
Which is it?