Business

Back on November 19, we told the tragic tale of one Joe Campbell. It went as follows.

In early November, the company which we dubbed as "one of the countless fly-by-night biotech pennystocks", the now infamous drug developer KaloBios Pharmaceuticals said it would wind down its operations and that it had engaged restructuring firm Brenner Group to help liquidate its assets. The company said it was "highly unlikely that exploring strategic options could generate a viable transaction within the time frame, given its limited cash resources.

The bigger they are...

The "Dash For Trash" continues...

As The open was another big short squeeze... 2nd biggest short squeeze day in 2 months and 2nd biggest 2-week squeeze in 10 months

The power of the Central Bank 'Put' also shows the risk of its loss, warns BofAML's global equity derivatives group, implicitly creating a highly unstable and fragile market place.

We have been following the slow at first, and now very fast-moving disaster that is Bed Bath And Beyond with close interest for years, at first with detached amusement (Bed, Bath & Beyond Buybacks Authorizes Another $2 Billion In Stock Repuchases) and increasingly with amazement, as the company launched an unprecedented stock buyback spree to mask the relentless deterioration in its underlying business.

Two months ago, when looking at the latest basis spreads, we showed that a disturbing development, first flagged here in March, was getting worse: namely the "Global Dollar Shortage Intensifies To Worst Level Since 2012."