Novo Nordisk, a stock that is similar to Clinuvel in that it to has developed a drug that has become incredibly popular within the consumer market, has had shorters gambling on a decline for years. Consistently around half a billion dollars has been shorted, and more recently that has increased. Yet the share price of that company has continued to climb.
NVIDIA shorters have continued to add (and lose in the process). They don't seem to get it either, driven by gambler's instinct.
I could make a very long list, but I have better things to do. The thing is, they are so often wrong especially when they try and target those companies that are fundamentally sound and printing cash. They are not smart, they don't know the future, they are gambling on terrible odds. Clinuvel is simply another pokie machine for them to gamble their money away at. Hence, once again, none of the most successful investors utilise this strategy (if you can even call it a strategy)
CUV Price at posting:
$14.06 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)