The Price Drivers told you so...
Ex-drug executive Shkreli has $40 million trading loss: U.S
- Thread starter just21
- Start date
The Price Drivers told you so...
Well done Sir!
Surf,
The guy lost millions at that hedge fund and manufactured false returns via stealing from Retrophin. He paid the MSMB bagholders with stolen Retrophin cash. Axed by board.
The guy raises the price on an orphaned drug 800-fold and sales go to zero. He gets axed by the board.
He sees some shit approaching a fan and decides to pull a manipulation in the sector. Takes a few hundred ($600K?) grand and piles into KBIO and becomes majority shareholder; board seats; control. Not difficult considering they were (literally) a day away from filing.
Now the race is on to remain out of jail long enough to sell the KBIO when it goes unrestricted. Has commingled funds in a TDA (or e*turd?) account and uses the account for his bond... very desperate move, but it's all he's got.
Gains some time as the account is nearly 100% KBIO stock marked to... $23. Hence the $45MM valuation. Of course the shares have been halted, pending delisting, and no hope of additional capital. Shrek cannot use KBIO as currency as he's locked-up, literally.
The Feds finally figure out the thing is delisted and trading on the pinks. KBIO frozen at $23 but the KBIOQ shares are actually trading $2. Really pathetic that he was allowed to pledge KBIO delisted shares.
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He'll be back more frequently than a bleau moon - he needs this place. I would suggest he select as his next handle @marketmystic to throw us off for a bit longer.
I bet Martin never made money in the stock market and the firm isn't much better either:
"As for Retrophin, it reported on August 4 that its product sales in the second quarter quadrupled to $24.1 million due to the commercial launch of two products to treat orphan diseases. The company reported a net loss of $25.5 million, but its stock has doubled in the last six months, thanks largely to some positive pipeline news, including fast-track designation from the FDA for a drug it’s developing to treat a rare neurodegenerative disease."
His new lawyer's advice: shut the fuck up already!!!
"As for Retrophin, it reported on August 4 that its product sales in the second quarter quadrupled to $24.1 million due to the commercial launch of two products to treat orphan diseases. The company reported a net loss of $25.5 million, but its stock has doubled in the last six months, thanks largely to some positive pipeline news, including fast-track designation from the FDA for a drug it’s developing to treat a rare neurodegenerative disease."
His new lawyer's advice: shut the fuck up already!!!
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Ah yes, next we will hear about "your contacts"...
A post quote from Reddit:
"http://www.sec.gov/Archives/edgar/data/1438533/000119312515292581/d19898dex991.htm Here is a link to the case against him, official SEC submitted documents. If what is alleged is true this guy is going to be spending some time in jail. It's funny how detailed the document is, at first I was skeptical, but it appears while working at Retrophin Shkreli used a company computer and likely a company email to discuss all of these deeds."
Another one:
"Am I the only one that see’s Martin Shkreli was going around buying protection like crazy days before he got locked up..Bobby Schmurda’s 2 million dollar bail and the 2 million dollar Wu-Tang Album. What do both parties have in common? Um I dunno, Wu-Tang has a bunch of buddies locked up in Rikers and Bobby Schmurda is locked up in Rikers. Definitelyyyy didn’t have to do with the feds closing in on him for security fraud though..Martin fckn loves music, man!
If I was Martin Shkreli, a sociopathic, self-proclaimed opportunist with too much money, and the feds up my ass. Wu-tangs 2million dollar album (that couldn’t find a buyer) suddenly isn’t an album to me anymore, but instead a negotiating chip for protection...Convo went something like this “Hey GZA I’ll buy that stupid fucking album for 2 mil, but there’s a catch, I need protection from all your affiliates in Rikers. In turn, I’ll give you two million dollars for the record no one was ever going to buy. Deal? Deal.”"
"http://www.sec.gov/Archives/edgar/data/1438533/000119312515292581/d19898dex991.htm Here is a link to the case against him, official SEC submitted documents. If what is alleged is true this guy is going to be spending some time in jail. It's funny how detailed the document is, at first I was skeptical, but it appears while working at Retrophin Shkreli used a company computer and likely a company email to discuss all of these deeds."
Another one:
"Am I the only one that see’s Martin Shkreli was going around buying protection like crazy days before he got locked up..Bobby Schmurda’s 2 million dollar bail and the 2 million dollar Wu-Tang Album. What do both parties have in common? Um I dunno, Wu-Tang has a bunch of buddies locked up in Rikers and Bobby Schmurda is locked up in Rikers. Definitelyyyy didn’t have to do with the feds closing in on him for security fraud though..Martin fckn loves music, man!
If I was Martin Shkreli, a sociopathic, self-proclaimed opportunist with too much money, and the feds up my ass. Wu-tangs 2million dollar album (that couldn’t find a buyer) suddenly isn’t an album to me anymore, but instead a negotiating chip for protection...Convo went something like this “Hey GZA I’ll buy that stupid fucking album for 2 mil, but there’s a catch, I need protection from all your affiliates in Rikers. In turn, I’ll give you two million dollars for the record no one was ever going to buy. Deal? Deal.”"
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I'd like to see a running total of his aliases...including the dozens that would pop in for a day and link to his old site before being banned...He has to be over 100 at this point...So clue us in "Bleau", how many are you up to?