Valeant -44%

As if Valeant Pharmaceuticals (VRX) weren’t already having a rough time, the stock is down 44% today. That’s on top of a 70% plunge going into today.

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The drugmaker slashed its guidance and warned that it faces an “event of default,” if they don’t get their annual report in by next month. It’s already late.

The stock has been the target of shortsellers, and they’ve been proven right. At the other end, Bill Ackman has reportedly lost several hundred million dollars betting on VRX.

What a mess.

Posted by on March 15th, 2016 at 11:46 am


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