Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I beg to differ re: absc's valuation. The reason it sold off was it's valuation, as it was for the entire biotech sector. Clinton's remarks may have been an added catalyst, but this is basic due diligence stuff. I bought 500 shares of absc when it was 11, at which point it appeared to have some true upside potential. I expected the stock to rise 100% within the year based on it's potential earnings. Needless to say, I was pleasantly surprised at its rocket ride and have sold all but 150 shares at different points. At a P/E of around 100 based on an est. .30/sh. 2001 earnings (@$35/share) I feel the stock is fully valued, but as a "story stock" and with obvious promotors such as Haroon (are you just recently burned or are you on absc's payroll?) and the flurry of "breaking news" being released almost daily by absc, this stock could see even more short term sizzle...just take it off the fire before you get burned.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.