Discussion in 'Stocks' started by cybercash28, Apr 29, 2009.

  1. Does anyone follo this one?? Looks like another DNDN. Hold for longer term and wait.........
  2. AAA30


    You have seen the AH quotes right?
  3. Yes. 70% drop..
  4. All because an employee mishandled data.
  5. zdreg


    u might fnd the answer on yahoo finance chat board.
  6. oraclewizard77

    oraclewizard77 Moderator

    "Per James Altucher Ridgeback Capital (a hedge fund) had 92% of their portfolio in Sequenom so you can say goodbye to that fund. And RA Capital (another fund) has 50% of their portfolio in the stock."

    Looks like these hedge funds may be toast. Do you really need to go over 50% in a single stock to make money, I would think if you could get 10 good ideas and put 10% in each, you would have less risk if one blows up on you, I assume they probably were also on margin if they were this stupid in the 1st place, so within 3 days I expect they are going to get blown out?

    Today as a trader I put a small long side 500 share bet on this stock, risk it goes to $ 1/sh, reward 10 points up in profit if they get independent validation.
  7. No way are those numbers correct.
  8. oraclewizard77

    oraclewizard77 Moderator


    Ridgeback Capital Investments of New York and Boston-based RA Capital Management are owners of 17.4% and 9.7% of Sequenom, respectively, according to SEC records.
    Shares of the San Diego-based company plunged 75% Thursday after the company said clinical data supporting its prenatal genetic test for Down syndrome was unreliable to due "employee mishandling" of test data.

    According to SEC filings, almost 92% of Ridgeback's portfolio is invested in Sequenom; while RA Capital also had an outsized chunk of its portfolio -- about 50% -- invested in the company.

    Worries that stinging losses from such a highly concentrated bet on a single company in serious trouble have investors broadly selling other biotech stocks owned by the two funds.

  9. Thanks Oracle.

    Nice "hedge fund". Almost it's entire fund in one stock.

  10. RobtF


    "Mishandled" the data. There's a lovely euphemism. What did they really do?
    #10     Apr 30, 2009