Valeant: At Worst, A Good Catalyst Play
- Valeant Pharmaceuticals expects the FDA decision for Latanoprostene Bunod in August.
- For new investors, this may be an opportunity for some quick gains.
- For old hands suffering from the stock’s two-year depressive run, these are signs of better times.
By S. Mitra, MBA (ISB)
For those who invested in Valeant Pharmaceuticals International Inc. (NYSE:VRX) in early 2015 trying to get on its obvious bull run at that time, holding on to Valeant beyond the now-infamous Hillary Clinton speech of September 2015 was perhaps the worst mistake of your investment life. The stock went from over $250 to below $75 in a month’s time, and if that was not enough, Ms Clinton was at it again in March 2016, this time directly attackingValeant by name. The stock fell further, to near $25, by March 18, a few weeks after Hillary’s speech - and the stock has never looked back since in its incessant run towards oblivion.
The full post is available to investor members only. Subscribe here.