First off REB can answer this better then I but there is no guarantee. If they don't need them they won't offer to lend them. I believe it's the former because there getting calls and they don't have any. My % is going up and up because they're needing them more and more to sell them to the people who are looking to short.
Now they can give me my shares back at any time if not needed or lower my rate at anytime which actually will be a good thing because to my understanding if that happens the shorts are covering. In my case I was offer a certern % to lend them my shares. After reading what the email with the interest rate starting at 20% and now up to 32% said I called them and got the lending program and ask if I can sell them in moments notice just like anything I own. They said yes. They opened another account from the lending program and if I want to sell at anytime I go to that account and sell from there. I also asked if my interest money goes back into the account because I do not want the cash I want it to go back into my rollover IRA. Where I will determend how much I want to withdraw montly to keep my tax bracket where I want it. Because at 70.5 years old they're going to force you to take a % out anyway so it was time for me to figure that when I reach that number (If this stock don't kill me first) I'll stay pretty much in the same tax bracket.
I hope this make some sense to you and I'm sure when Reb see's this he'll answer because I didn't contact them they contacted me.
I just wanted to know if I could sell when I wanted and if the money goes back to my rollover IRA. The answer as I stated above was Yes Yes.
Thanks, OT, that helps. It sounds like they approached you from the lending program. I guess I could just move over and see if they do the same for me. Although it's not as if I have tons of shares to lend, just 2K.
OT-- is lending your shares like writing covered calls on them?
There lending my shares to sell and charge a very high interest rate to the buyer who wants to short the stock. Call your broker and try to short MNKD and see what they're charging. Hell there giving me 32% what are they charging them. This is all new to me also I had never heard about this before.
REB get in here. I'll text him to get his ass in here lol
I never heard of that either. When they lend your shares they don't even need to tell you as the brokerage takes full responsibility.
The only times a short seller pays interest is when the stock they short carries a dividend.
OT,
Buy your KERx now. 4.50. Sales report ahead of schedule, new infusion of cash, high success rate in US, with approval in Europe. They have increased sales force by 50% in Europe. Be ready to hold for a year or add to an existing fund.
OT,
Buy your KERx now. 4.50. Sales report ahead of schedule, new infusion of cash, high success rate in US, with approval in Europe. They have increased sales force by 50% in Europe. Be ready to hold for a year or add to an existing fund.
boom
Got in at $4.52 Thanks Boom, Bought a decent amount and always looking to add on dips. I'm looking for $10 at this time but who knows could get back to $17 only the shadow knows. Now all I have to do is live another year or else the wife and the landscaper get it.
Cools MNKD up to 38% the good news The Bad under $3
OT, I'm still confused how the brokerage can give you a 38% Interest rate on a 3 dollar stock just to lend it to a short.
I'm thinking who ever is borrowing these shares at those crazy rates knows for sure that MKND is going to ZERO real quick otherwise why would they pay those rates, it just seems absurd.
OT, I'm still confused how the brokerage can give you a 38% Interest rate on a 3 dollar stock just to lend it to a short.
I'm thinking who ever is borrowing these shares at those crazy rates knows for sure that MKND is going to ZERO real quick otherwise why would they pay those rates, it just seems absurd.
Right now I'm getting a little over $400 a month interest and I have the same questions as you do. I have one major concern that the partner pulls out because MNKD is broke and I don't thing they can get another partner with sales the way they are. This is stock you do one of two things cut bait now and take your loss which in my case would be about 20k really not that bad because I sold some when it hit 7.50 (I got it pretty cheap) or so a while ago but then bought back cheaper so it could have been worst.
#2 Hold on and it could be for anywhere from 3-5 years. If I can pick-up 20k somewhere within the next few months I'll consider that option again. There was a story about 1.5 years ago when the stock I think was $6. or so there was a story that this stock will see a $1.00 I laughed not laughing lately. But wraps we been around a long time and it wouldn't be the first time I took hit hey it's part of the game. I haven't taken a hit like this since DNDN I took a 30k then but that was a big year for me but what did Forrest say "Shit Happens" It's part of the game just don't let it tilt you. Just move on think clearly and don't try to get it back in one day. It will come back
$400 on 20k a month is half a point a week. Their paying you close to Don Corleone rates. Like you said, there is only 2 outcomes in this scenario
if the stock survives you become a Don Cheech and if it goes to Zero you become a Don Chooch
I hope it works out for you those are some crazy rates to be collecting legally :thumbup2:
No I have more invested then 20k that would be my loss if I sold now. if it goes belly up I lose about a little more then double that.
I missed 3 big stocks gains this year and it won't happen again. Got caught up in this MNKD and wasn't thinking clear. Now I feel I'll wait around a while and see what happens hope for the best and go from there. I couldn't honestly tell you what I'm going to do at this point I'll just take it a day at a time and work on other stuff. I'm not a trader but I'm an in and out guy in the market and believe me you know it adds up quick this sit and hold that's not today's market IMO and I thought this would be a quick score and out. I'm told the shorts can't hang on much longer but they seem to be doing a good job of just that. Maybe people who are shorting this now at these rates feel it's going B/K I don't know and as you know the shit that goes on wall street.
Hey OT, can you call Reb and get him to chime in on MNKD recent tanking? Is it time to sell and take our losses? I was going to at $3...wish I would've.
I read this yesterday and I also got my first interest statement and it takes a little of the worry off but mangement needs to step it up and hopefully this could be the start. Still a long way to go but but at least it's a postive. I spoke to Reb and he's been busy at work but we always talk for a while and told me to mention he'll be around as soon as he finds a little free time.
I read this yesterday and I also got my first interest statement and it takes a little of the worry off but mangement needs to step it up and hopefully this could be the start. Still a long way to go but but at least it's a postive. I spoke to Reb and he's been busy at work but we always talk for a while and told me to mention he'll be around as soon as he finds a little free time.
Thanks, Reb. They didn't offer me the lending unfortunately. Do you think it will get back up to $3 or $4? I'm likely out if it does. If not, I guess I'll just sink with the rest of the suckers.
Bought in at $1.88..... Said I was done but I think it will be back into the low 2's in the next week or so. Brutal rumors.... lets hope thats all they are.
Keith Markey from Griffin Securities has always been objective in his analysis IMO. Here is his latest which I agree with, except I am still bullish and not neutral. He has to tone down his previous rating which the analysts have a tendency to do, however, I don't know if he has spoken directly to any of the Sanofi reps, the one in my area told me they had their highest number of scripts written last week and still believes the company is committed to the product.
Schwab raised their rate and now matches Fidelity at 40% for shares in the lending program...I know individuals that have 100k shares in the program and are receiving very nice "dividends" while they wait. This is a long term investment, and if you take from when the company came public to now and what its been through to get here I have to reiterate the risk/reward is heavily skewed to the long side as opposed to the reward holding short while paying extreme lending costs of 60%+ to holdout for a hopeful BK scenario in a company that has the best prandial insulin for the diabetes market available. There is a reason when you read Markey's comments about Lilly and Novo signing deals with the insurance cos. to effectively try and create a block for patients to access Afrezza. The patients using it have spoken and they have never had their lives freed up like they do with Afrezza...the paradigm change will happen but it's a long process.
Unless you need the funds for anything absolutely necessary, this would be the absolute wrong time to sell IMO, on the contrary, I continue to add fwiw...it's similar to when you believe your number is right and the market goes against you, in most cases if you believe you have +EV you should be adding to your bet.
There are many other factors that say we are in the washout phase of this stock the least of which is the long term chart showing a huge inverse head and shoulders pattern that has been about 8yrs. in the making. Think about it, if you were a short and you had the opportunity to cover last week when it marked under $2.00 and you had a huge profit why would you risk waiting for a lower number when you're paying through the nose on borrowed shares which is mitigating any of that remaining profit potential? The reason is because most if not all strong hands are left and how do you cover 120+ million shares without their being available....as soon as any covering started to come in last week, the share price moved fairly easily to the $3 strike at which point the options came into play by expiration on friday.
Sorry for not being more readily available, been real busy with "my day job" among other things...been staying in touch with OT as time allows and have conveyed my thoughts along the way. All the large retail holders that I personally know have not liquidated any of their holdings to date, some have added, and the others have held their positions.
On an off topic note, I have seen the young Rebs twice and they are very deep this year. This is the first year that I see them using a full court pressure D, and having a deep enough bench to make it work...against Cal Poly which is a veteran team they forced a lot of turnovers on a team that was one of the tops in the nation last year of taking care of the rock. Stacey Augmon has taken over the defense this year so who knows but I expect them to get to the dance, if not Rice will be history. GL this season everyone! -R
Hey Reb, I know lives are busy and I do appreciate you taking time to share knowledge (even though most is over my head haha).
What do you make of the CEO resignation?
Also, what chance do you give that MannKind will go completely bankrupt at one point? To put odds in the sports betting world, are we talking -1000 odds or -10000 odds?
Hey Reb, I know lives are busy and I do appreciate you taking time to share knowledge (even though most is over my head haha).
What do you make of the CEO resignation?
Also, what chance do you give that MannKind will go completely bankrupt at one point? To put odds in the sports betting world, are we talking -1000 odds or -10000 odds?
Cools look at it as a good thing the man didn't resign I think me and you have been with corps long enough to know he was asked to leave. Wonder if he had the golden parachute. I doubt it they don't give that many away. Onward and upward wish you could have got into the lending program. Will get there. Try not to look every day
Well OT, looks like we got sucker-punched on this one. Have you talked to Reb lately? Hopefully you're not talking him off a ledge...
Spoke to him a few days ago (Over the holidays) not much to talk about just that my fears was a pull-out with Jan coming up and that being the current rumor. Well I guess some rumors turn out to be true. Nothing much you can do but hope they find another partner which is highly unlikely so take the beating and just sit and move on and who knows maybe one day will get a couple of bucks back.
I'm still in the leading program and getting 15% waiting anyday now for them to give them back to me hoping that they keep them.
Take care cools sometimes you swing and miss.
Well OT, looks like we got sucker-punched on this one. Have you talked to Reb lately? Hopefully you're not talking him off a ledge...
Spoke to him a few days ago (Over the holidays) not much to talk about just that my fears was a pull-out with Jan coming up and that being the current rumor. Well I guess some rumors turn out to be true. Nothing much you can do but hope they find another partner which is highly unlikely so take the beating and just sit and move on and who knows maybe one day will get a couple of bucks back.
I'm still in the leading program and getting 15% waiting anyday now for them to give them back to me hoping that they keep them.
Take care cools sometimes you swing and miss.:idoit:
Funny walk out of the room came back and didn't think I posted added a headbanger and posted again. Another tough morning but let me say this Happy New Year to you and the family Safe and Healthy.
Comments
Now they can give me my shares back at any time if not needed or lower my rate at anytime which actually will be a good thing because to my understanding if that happens the shorts are covering. In my case I was offer a certern % to lend them my shares. After reading what the email with the interest rate starting at 20% and now up to 32% said I called them and got the lending program and ask if I can sell them in moments notice just like anything I own. They said yes. They opened another account from the lending program and if I want to sell at anytime I go to that account and sell from there. I also asked if my interest money goes back into the account because I do not want the cash I want it to go back into my rollover IRA. Where I will determend how much I want to withdraw montly to keep my tax bracket where I want it. Because at 70.5 years old they're going to force you to take a % out anyway so it was time for me to figure that when I reach that number (If this stock don't kill me first) I'll stay pretty much in the same tax bracket.
I hope this make some sense to you and I'm sure when Reb see's this he'll answer because I didn't contact them they contacted me.
I just wanted to know if I could sell when I wanted and if the money goes back to my rollover IRA. The answer as I stated above was Yes Yes.
There lending my shares to sell and charge a very high interest rate to the buyer who wants to short the stock. Call your broker and try to short MNKD and see what they're charging. Hell there giving me 32% what are they charging them. This is all new to me also I had never heard about this before.
REB get in here. I'll text him to get his ass in here lol
The only times a short seller pays interest is when the stock they short carries a dividend.
Up 22.8% at 5:25 EST
http://www.thestreet.com/story/13344140/1/mannkind-afrezza-sales-flop-again-sanofi-losing-patience.html?puc=yahoo&cm_ven=YAHOO
I read medical records for a living working for SSA. Lots of fat fucks with DM. Never seen an endo rx this drug.
Buy your KERx now. 4.50. Sales report ahead of schedule, new infusion of cash, high success rate in US, with approval in Europe. They have increased sales force by 50% in Europe. Be ready to hold for a year or add to an existing fund.
boom
Got in at $4.52 Thanks Boom, Bought a decent amount and always looking to add on dips. I'm looking for $10 at this time but who knows could get back to $17 only the shadow knows. Now all I have to do is live another year or else the wife and the landscaper get it.
Cools MNKD up to 38% the good news The Bad under $3
I know, I know, just brutal bad news. I guess I'm going to be holding on to MNKD until I'm your age OT ;-) If it's even still in existence then...
I'm thinking who ever is borrowing these shares at those crazy rates knows for sure that MKND is going to ZERO real quick otherwise why would they pay those rates, it just seems absurd.
Right now I'm getting a little over $400 a month interest and I have the same questions as you do. I have one major concern that the partner pulls out because MNKD is broke and I don't thing they can get another partner with sales the way they are. This is stock you do one of two things cut bait now and take your loss which in my case would be about 20k really not that bad because I sold some when it hit 7.50 (I got it pretty cheap) or so a while ago but then bought back cheaper so it could have been worst.
#2 Hold on and it could be for anywhere from 3-5 years. If I can pick-up 20k somewhere within the next few months I'll consider that option again. There was a story about 1.5 years ago when the stock I think was $6. or so there was a story that this stock will see a $1.00 I laughed not laughing lately. But wraps we been around a long time and it wouldn't be the first time I took hit hey it's part of the game. I haven't taken a hit like this since DNDN I took a 30k then but that was a big year for me but what did Forrest say "Shit Happens" It's part of the game just don't let it tilt you. Just move on think clearly and don't try to get it back in one day. It will come back
if the stock survives you become a Don Cheech
I hope it works out for you those are some crazy rates to be collecting legally :thumbup2:
I missed 3 big stocks gains this year and it won't happen again. Got caught up in this MNKD and wasn't thinking clear. Now I feel I'll wait around a while and see what happens hope for the best and go from there. I couldn't honestly tell you what I'm going to do at this point I'll just take it a day at a time and work on other stuff. I'm not a trader but I'm an in and out guy in the market and believe me you know it adds up quick this sit and hold that's not today's market IMO and I thought this would be a quick score and out. I'm told the shorts can't hang on much longer but they seem to be doing a good job of just that. Maybe people who are shorting this now at these rates feel it's going B/K I don't know and as you know the shit that goes on wall street.
I read this yesterday and I also got my first interest statement and it takes a little of the worry off but mangement needs to step it up and hopefully this could be the start. Still a long way to go but but at least it's a postive. I spoke to Reb and he's been busy at work but we always talk for a while and told me to mention he'll be around as soon as he finds a little free time.
Thanks, Reb. They didn't offer me the lending unfortunately. Do you think it will get back up to $3 or $4? I'm likely out if it does. If not, I guess I'll just sink with the rest of the suckers.
Keith Markey from Griffin Securities has always been objective in his analysis IMO. Here is his latest which I agree with, except I am still bullish and not neutral. He has to tone down his previous rating which the analysts have a tendency to do, however, I don't know if he has spoken directly to any of the Sanofi reps, the one in my area told me they had their highest number of scripts written last week and still believes the company is committed to the product.
Schwab raised their rate and now matches Fidelity at 40% for shares in the lending program...I know individuals that have 100k shares in the program and are receiving very nice "dividends" while they wait. This is a long term investment, and if you take from when the company came public to now and what its been through to get here I have to reiterate the risk/reward is heavily skewed to the long side as opposed to the reward holding short while paying extreme lending costs of 60%+ to holdout for a hopeful BK scenario in a company that has the best prandial insulin for the diabetes market available. There is a reason when you read Markey's comments about Lilly and Novo signing deals with the insurance cos. to effectively try and create a block for patients to access Afrezza. The patients using it have spoken and they have never had their lives freed up like they do with Afrezza...the paradigm change will happen but it's a long process.
Unless you need the funds for anything absolutely necessary, this would be the absolute wrong time to sell IMO, on the contrary, I continue to add fwiw...it's similar to when you believe your number is right and the market goes against you, in most cases if you believe you have +EV you should be adding to your bet.
There are many other factors that say we are in the washout phase of this stock the least of which is the long term chart showing a huge inverse head and shoulders pattern that has been about 8yrs. in the making. Think about it, if you were a short and you had the opportunity to cover last week when it marked under $2.00 and you had a huge profit why would you risk waiting for a lower number when you're paying through the nose on borrowed shares which is mitigating any of that remaining profit potential? The reason is because most if not all strong hands are left and how do you cover 120+ million shares without their being available....as soon as any covering started to come in last week, the share price moved fairly easily to the $3 strike at which point the options came into play by expiration on friday.
Sorry for not being more readily available, been real busy with "my day job" among other things...been staying in touch with OT as time allows and have conveyed my thoughts along the way. All the large retail holders that I personally know have not liquidated any of their holdings to date, some have added, and the others have held their positions.
On an off topic note, I have seen the young Rebs twice and they are very deep this year. This is the first year that I see them using a full court pressure D, and having a deep enough bench to make it work...against Cal Poly which is a veteran team they forced a lot of turnovers on a team that was one of the tops in the nation last year of taking care of the rock. Stacey Augmon has taken over the defense this year so who knows but I expect them to get to the dance, if not Rice will be history. GL this season everyone! -R
What do you make of the CEO resignation?
Also, what chance do you give that MannKind will go completely bankrupt at one point? To put odds in the sports betting world, are we talking -1000 odds or -10000 odds?
Cools look at it as a good thing the man didn't resign I think me and you have been with corps long enough to know he was asked to leave. Wonder if he had the golden parachute. I doubt it they don't give that many away. Onward and upward wish you could have got into the lending program. Will get there. Try not to look every day
Spoke to him a few days ago (Over the holidays) not much to talk about just that my fears was a pull-out with Jan coming up and that being the current rumor. Well I guess some rumors turn out to be true. Nothing much you can do but hope they find another partner which is highly unlikely so take the beating and just sit and move on and who knows maybe one day will get a couple of bucks back.
I'm still in the leading program and getting 15% waiting anyday now for them to give them back to me hoping that they keep them.
Take care cools sometimes you swing and miss.
Spoke to him a few days ago (Over the holidays) not much to talk about just that my fears was a pull-out with Jan coming up and that being the current rumor. Well I guess some rumors turn out to be true. Nothing much you can do but hope they find another partner which is highly unlikely so take the beating and just sit and move on and who knows maybe one day will get a couple of bucks back.
I'm still in the leading program and getting 15% waiting anyday now for them to give them back to me hoping that they keep them.
Take care cools sometimes you swing and miss.:idoit:
Funny walk out of the room came back and didn't think I posted added a headbanger and posted again. Another tough morning but let me say this Happy New Year to you and the family Safe and Healthy.