Diamonds and Dogs
Short squeeze anyone? KaloBios Pharmaceuticals (KBIO) is the diamond of the day up over 40% after the CEO Shkreli tweeted out on Thursday that he would stop lending stock to people hoping to short it. The new CEO has shaken up the company quite a bit in the last two weeks. Since taking over, he is looking to initiate new leukemia treatments and is in talks to acquire three other drugs in deals that could be announced by the end of the year. Currently, the company itself focuses on monoclonal antibody therapeutics for diseases and other medical conditions. The new CEO is pretty controversial. At his other pharmaceutical firm, Shkreli increased the price of their AIDs drug to patients by 5000% gaining the irk of Hilary Clinton and started a selloff in the biotech sector. At KaloBios, CEO Shkreli seems to be orchestrating a perfect short squeeze. The question now is how high will the short squeeze send the shares of KBIO?
The world of sports might be losing fans. Today's dog is Dow component, Disney (DIS) down over $3.50 or 3% after a 10-K filing disclosed the company's ESPN division may have lost 3 million subscribers in October. ESPN carries the most weight in Disney's cable segment accounting for 75% of revenues and 25% of Disney's total revenue. The loss of subscriptions has caused Disney to lose $900million through two types of cable affiliates. On the bright side for Disney, they have the Star Wars movie coming out next month. On top of that they also will get royalties from the Star Wars toys that Hasbro (HAS) is selling through all the major toy stores. Today being black Friday should be a good sales day for Disney and everyone else.
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