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MannKind (MNKD -12%) takes a hit today on no specific new-related driver. Speculation is...

MannKind (MNKD -12%) takes a hit today on no specific new-related driver. Speculation is circulating that a number of hedge funds are leaning on the shares to flush out supply from retail investors.
Comments (9)
  • Joe2922
    , contributor
    Comments (409) | Send Message
     
    Spec from clueless rookies on msg boards - permabulls
    18 Jun 2013, 12:54 PM Reply Like
  • Pathseeker
    , contributor
    Comments (6) | Send Message
     
    Fly On The Wall erroneously published a statement linking MannKind with the news that the FDA was investigating Zyprexa after two deaths. MannKind shares plummented! The story was taken from Bloomberg News and should have read:

     

    FDA Investigating Lilly’s Zyprexa Injection After Two Die
    By Drew Armstrong - Jun 18, 2013 11:26 AM ET

     

    Eli Lilly & Co. (LLY)’s injectable form of the antipsychotic Zyprexa is being investigated by U.S. regulators after two patients died three to four days after receiving the drug....

     

    Fly On The Wall later issued a very ambuious follow-up to the effect that a "link was fixed", nothing more, but noting that MannKind shares had plummeted. There was no actual correction of facts, no explanation that Zyprexa was a product of Lilly Pharmaceutical, that it has no relationship with MannKind, and no apology to MannKind shareholders for the over 20 percent drop in the value of their stock resulting from their erroneous report.

     

    That was the "DRIVER" behind today's substantial drop in MannKind share value.
    18 Jun 2013, 03:22 PM Reply Like
  • desertridgept
    , contributor
    Comments (8) | Send Message
     
    doesn't take all day to realize the mistake. still down big time.
    18 Jun 2013, 03:30 PM Reply Like
  • ChrisWestLA
    , contributor
    Comments (28) | Send Message
     
    MannKind CFO says has 'no news' to account for today's stock movement
    MannKind (MNKD) CFO Matthew Pfeffer cites speculation that the company planned to pull out of attending Wells Fargo's conference, which was unfounded. Pfeffer also says some pointed to erroneous reporting of a link between MannKind and Zyprexa, an Eli Lilly (LLY) drug with which MannKind has "no connection," though Pfeffer added that he does not believe confusion about news related to Zyprexa was a cause for the stock move. The comments were made by Pfeffer while speaking at a Wells Fargo healthcare conference.
    18 Jun 2013, 04:28 PM Reply Like
  • telephonics
    , contributor
    Comments (3) | Send Message
     
    rumors are just that rumors!! No basis for concern
    18 Jun 2013, 04:54 PM Reply Like
  • Pathseeker
    , contributor
    Comments (6) | Send Message
     
    Copied directly from Fidelity Investments news this morning:

     

    MannKind puts active, FDA says investigating two deaths after Zyprexa injection
    TheFlyOnTheWall - 10:18 AM ET 06/18/2013

     

    MannKind plunges as FDA investigates two death after Zyprexa injections
    TheFlyOnTheWall - 10:30 AM ET 06/18/2013

     

    MannKind bouncing off lows, levels to watch
    TheFlyOnTheWall - 10:48 AM ET 06/18/2013

     

    Correction: Fixes link: MannKind bouncing off lows, levels to watch
    BY Fly On The Wall
    — 11:06 AM ET 06/18/2013

     

    Note: This story ran previously with a broken reference link. This posting corrects that link. The stock has bounced up to the $6.20 area, now down by over 17% and off the low of the session at $5.70. Next resistance is at $6.54. Support is at $5.98. Some are pointing to a note in Motley Fool this morning as a possible catalyst though this move in the stock is a rather extreme reaction for a single article to have produced. [Reference Link]:[http://bit.ly/10tTfKa]

     

    End of news copied from Fidelity's News board..
    Comment:
    Original story was published by Bloomberg News today. It correctly reported:
    FDA is investigating two deaths after Lilly's Zyprexa injections.

     

    Note: Zyprexa is a product of Lilly Pharmaceuticals NOT MannKind.

     

    Also Note: Fly On The Wall's evasive comment:
    "Some are pointing to a note in Motley Fool this morning as a possible catalyst though this move in the stock is a rather extreme reaction for a single article to have produced. [Reference Link]:[http://bit.ly/10tTfKa]"

     

    MannKind's stock plummet had nothing to do with the Motely Fool artcile. It resulted directly from the two stories published by Fly On The Wall at 10:18 am and 10:30 am this morning linking MannKind with the FDA's investigation of the Zyprexa injections and two deaths. That why Fly On The Wall 11:06 am story led with the Note: "This story ran previously with a broken reference link." Yes, that part of the story is correct.
    18 Jun 2013, 04:54 PM Reply Like
  • Mourad Zarouri
    , contributor
    Comments (183) | Send Message
     
    The false news or "mistake" as it will undoubtedly be labeled is not a mistake but simply part of an orchestrated bear raid. Unfortunately the SEC is still busy studying the up-tic rule to investigate.
    18 Jun 2013, 05:08 PM Reply Like
  • rufusthrat
    , contributor
    Comments (120) | Send Message
     
    Classic bear raid stock take down with Motley fool article coinciding with Fly on the Wall shady news release. There was no "mistake" in the Fly on he Wall MNKD lie, that is how it was planned. That is how shorts cover their positions and drive out weak retail investors and grab their shares at discounted price.
    18 Jun 2013, 11:54 PM Reply Like
  • primarywatcher
    , contributor
    Comments (5) | Send Message
     
    If Hedge Funds, et al perpetrated this action - no doubt the SEC should investigate. However, the question remains, WILL investors who were raped by their triggering stop loss markers have the skin to reinvest? The Street, the Fly, Hedge Funds, etc. may have very well cut their nose to spite their face.
    19 Jun 2013, 09:01 AM Reply Like
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