PDLI (Coulda, wouda, shouda)
Well Third Point has forced a shake-up at PDL. CEO resigning, selling their commercial products/assets, going back to their knitting--product development. Only bad thing was the announcement that Nuvion was no good. Stock obviously got hammered yesterday--down $5 to $18.80, below our original buy price of $19.31.
The value here has diminished. We think it is still worth $25-$30 to a buyer.
Third Point is pressing the sale of the whole company, not just a part of it and the Chairman's (Gage) resignation.
We will hold and look for an exit above our buy price (just hate to lose money). So if you see $20--sell PDLI.
The value here has diminished. We think it is still worth $25-$30 to a buyer.
Third Point is pressing the sale of the whole company, not just a part of it and the Chairman's (Gage) resignation.
We will hold and look for an exit above our buy price (just hate to lose money). So if you see $20--sell PDLI.
posted by Cheap Stock Investor | 6:10 AM
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