Daybagger Spiffy-Pop
Back in mid 2007 The Motley Fool Rule Breakers newsletter held a competition for a name to describe when a share increases by your cost basis in one day, e.g you bought it at a dollar and at some point in the future it goes up $1 in a single day. I believe it was Peter Lynch who popularised the term bags for price increases and set a generation of investors on the hunt for their own ten-baggers. The Motley Fool were after an equivalent term for a bag in a day.
There were two winning entries, “daybagger” (the noun) and “spiffy-pop” (the verb). With Biota powering ahead today, I’m reminded of the day when Biota spiffy-popped on me, heck it was almost a double spiffy-pop. Today, Biota closed up $0.30, 13.5%, on two and half times average daily volume. Throughout the day there were almost three times the quantity of buy to sell units. That’s a huge reversal of recent stats, since I started invested in Biota last October/November the ratio has usually been around 1 to 3 buy to sell.
While I generally concentrate on simply getting on base I’m wondering if anyone sees some potential home-runs in the Australian or US market at the moment. Do you? If so it would be great if you could leave a comment with your best idea. (Is it stupid to say no spruikers?)
In other news I note that Prana Biotechnology closed at $0.185. That close under $0.19 triggers the price protection on the recent $6M funding. This should come as no surprise, but still the further dilution is disappointing. If the shares fall to $0.17 the six million dollar man, sorry I couldn’t resist, get an additional 5.3M shares.
Investors are wagering that GPG will increase its $0.48 bid for MMC Contrarian. The shares are trading hands at $0.485 – $0.49 on good volume. As the GPG bid is opportunistically low I think it’s a good bet.
The big news in Australia today was the approval of Gorgon. Absolutely staggering figures. Netpune Marine is my only exposure to the $33B cost of the project. I wonder if Gorgonites will get an updated definition. Perhaps the current team of heros, led by Archer, programmed to search for the peaceful land of Gorgon will become a team of oil majors, led by Chevron, looking to replace the world’s dwindling energy supplies.
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Relenza is the only drug that has had no flu resistance. If the flu hits big – it is the only guaranteed drug.
Relenza is also the only drug that has survived being wished gone by it’s manufacturer GSK, more interested in it’s “conflict of interest”, influenza vaccines.
If it hadn’t been for bird flu, Relenza factories that had already been shut down, would have been bulldozed under by now.
BTA management is equally indifferent, more interested in keeping profits away from shareholders than winning lawsuits and proving they aren’t self-serving spineless wonders.
The only thing shareholders can be proud of is the resilience of Relenza against all odds(not just influenza), and the brilliance of the scientists that discovered zanamivir and other antivirals. The only reason BTA is a good investment.
miso I don’t wish to start editing people’s comments, but your comment is right on the edge of civility. I also disagree with the underlying assumptions and message.
1. The Relenza story is not the only example, it is almost the script for large pharma with a franchise to protect.
2. If not for bird flu and then swine flu, it was probable that it would have been something else; stockpile restocking, Tamiflu resistance.
3. BTA management probably made a mistake with the lawsuit, but that is old news. The Chairman and a director have since left the company. It is more fruitful to look forward. BTA management also bought back shares at around $0.70-.80 and more.
Gotta go
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