Jul. 22 at 5:27 PM
$FBIOP $FBIO Been awhile. Time for a rant.
Apparently some yahoo on Yahoo Finance sold his "entire position" in FBIOP because he found a document from two decades ago about the Dendreon / Provenge fiasco from the mid 2000's...And decided to post about it like he's the armchair sleuth of the century.
Why do companies like this attract such buffoons?
THE SAME MARKET that evaluates the market cap of FBIO, evaluates FBIOP.
If THE SAME MARKET truly believed that FBIOP would "never be made whole", the valuation would show up in FBIO as well.
FBIO has significantly higher liquidity, so it is a useful chew toy for day traders, speculators, and larger funds.
If FBIO is worth ANYTHING AT ALL, then a suspended FBIOP should be worth AT LEAST its liquidation preference less current market opportunity cost (25 + arrears - opportunity cost).
