I am closing my short recommendation for Neoprobe (NEOP) at $2.00. I think the risk/reward of shorting NEOP is not so favorable as to initiate a short. I still think the stock has more downside. I have material concerns about the study design and study results of Lymphoseek.
I also think sales of Lymphoseek will be tiny. However, I cannot in good faith recommend shorting Neoprobe to you at this price. I do not think being long makes sense, either, however. If I found myself in a position where I was long Neoprobe, I would sell and move on to my two other published long ideas: Biomarin (NASDAQ:BMRN) and Chelsea (NASDAQ:CHTP).
Neoprobe was $5.25 when I submitted my article to Seeking Alpha. Today it is $2.00, a decline of 61%. I believe in all of my other published ideas and will inform you in this manner when I "close" them. Hopefully, this way, I will build an online "track record" for you, the general public. I am not perfect and I will make lots of mistakes. Picking stocks is a journey for information and opinions and together I think we can succeed.
Disclosure: I am short NEOP.
Additional disclosure: I may change my position at any time without notifying Seeking Alpha.