Here we go yet again
Given the rollercoaster ride, more commonly known as MannKind (NASDAQ:MNKD), has more ups and downs, twists and turns than a Bavarian pretzel, investors would realize just how treacherous this ride can be. Last week unsubstantiated and quite frankly questionable rumors circulated that Lilly (NYSE:LLY) was about to buy MannKind for $12.50 per share. Of course investors bought into this phony baloney and shares of MannKind closed at $6.76 this past Thursday.
Today shares closed at $6.28 and once again the stock appears headed back on a downward path. If investors are brave enough and look at chart of MannKind they’ll quickly see this is not the first time they have been duped into believing something good is about to happen, only later to find out this supposed good news is nothing more than a mirage. Like a thirsty man crawling through the desert in desperate need of water, MannKind investors are so anxious for something, anything good to come along they will buy into any rumor no matter how farfetched the rumor is.
Frankly Diabetic Investor has little sympathy for anyone who invests in MannKind as even the smallest amount of due diligence would reveal this is not the first, nor will it likely be the last time something said by or about MannKind does not come true. The only true fact about MannKind is the company has been associated with more rumors and speculation than Minnesota has lakes.
With so many documented broken promises it’s a miracle that anyone believes anything that comes from MannKind. It’s even more astonishing that the odds are better than 50/50 this will happen again.
As Burton Stevenson once noted; “A sucker is a fool that bites at any bait.” MannKind seems to live by this and will continue to fill the water with bait as they know the fish will keep biting.