Matt Gravitt
Long/short equity, value, special situations, momentum

Galena Biopharma: Numerous Red Flags Suggest A Significant Overvaluation

Disclosure

I am short Galena Biopharma (NASDAQ:GALE) in via the purchase of put options at varying expiration dates/strike prices.

Summary

"There is no training - classroom or otherwise - that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market. There's typically no logic to it; irrationality reigns supreme…" - Paul Tudor Jones

While pondering of a way to sum up Galena Biopharma (GALE), I remembered that quote from Paul Tudor Jones and realized how applicable it is to GALE. The ~200% rise GALE has seen over the past two months is nothing short of incredible. After trading range bound for...

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