Symbol: IRBT
Closing Price (Close of business Jun 28, 2007) : $20.00
I had last blogged about iRobot in article iRobot Romba - Man I like it Clean. At the time, IRBT was trading a little upwards of $18. Today it hit 20 as there were some good partnerships for potential new products.
I bless IRBT right here right now!!!
As Jim Cramer says, do not buy all your positions all at once.
Position: The writer had no position in IRBT at the time of writing this article.
Fellow readers,
On Jan 4 2007, Apple shares closed at $85.66. It was Cramer's #2 pick of 2007 and I backed Cramer in the article Apple Computers (AAPL) - White is the New PC.
Today, AAPL shares closed at $125.09 - Booyah! Jimmy - you were correct!!!
The million dollar question is - Is AAPL done going up? No one can answer that for sure, but i'll give you my take. More people are buying AAPL laptops; they are not just cool looking, but they are competitively priced too. The new iPhone that is expected to come out June 29th has created a lot a buzz. Today, AAPL announced that the iPhone has a battery life of 8 hours.
A train moving with this momentum is hard to slow down, let go pushing it backwards. I think AAPL will see 130's to 140's soon and I'm still bullish.
Position: The writer had no position in AAPL at the time of writing this article.
Symbol: XKEM.OB
Closing Price (06/18/2007): $0.0202
In my opinion, XKEM is a play on NICOSAN, a drug that can treat sickle cell.
According to Wikipedia.com,
"Sickle-cell disease is a group of genetic disorders caused by sickle hemoglobin (Hgb S or Hb S). In many forms of the disease, the red blood cells change shape, usually looking much like that of a banana, upon deoxygenation because of polymerization of the abnormal sickle haemoglobin. This process damages the red blood cell membrane, and can cause the cells to become stuck in blood vessels. This deprives the downstream tissues of oxygen and causes ischemia and infarction, which may cause organ damage, such as stroke. The disease is chronic and lifelong."
According to my homework, there are about 12 million patients with Sickle Cell Disease in the world, out of which 4 million are in Nigeria, and 80 thousand in the US. XKEM is building plants in Nigeria and construction progress is demonstrated on their website.
In my opinion, XKEM is a long term play and comes with a huge risk. Only the adventurous find hidden gems! Please do your own homework before making your trading decisions.
Position: The writer had no position in XKEM at the time of writing this article.
Symbol: GRMN
Closing Price (06/15/07): $69.77
I loved Garmin Ltd. on Jan 4, 2007 and I'm glad I loved it then. The stock for GRMN closed at $55.06 on Jan 4 and it closed at $69.77 on Jun 15.
Read Garmin (GRMN) - Take me to the $$$
Position: The writer had no position in the above mentioned stock at the time of writing this article.
Symbol: DNDN
Closing Price (06/15/07): $7.63
According to Yahoo Finance Business Summary,
"Dendreon Corporation, a biotechnology company, engages in the discovery, development, and commercialization of therapeutics that harness the immune system to fight cancer ."
On May 9 2007, FDA requested additional clinical data and held off on approving PROVENGE, an active cellular immunotherapy for the treatment of asymptomatic, metastatic, androgen-independent prostate cancer. As a result, shares of DNDN, which closed on May 8 at $17.74 opened on May 9 at $7.31 and closed at $6.33.
My questions in my mind now are - Is DNDN worth the risk at this point? Will they be able to provide sufficient clinical data to FDA fast enough to start production of Provenge by 2008? Will they be able to provide the results post 2008?
Here are my opinions that I share with you.
I think DNDN is a fine company lead by good management; that is evident as management quickly converted senior subordinated notes to raise 75 million.
"Company intends to use the net proceeds of this offering to finance its activities relating to the potential commercialization of Provenge® (sipuleucel-T), expand its manufacturing facilities for the commercial production of PROVENGE, fund ongoing and new clinical trials for PROVENGE and its other product candidates, support research and preclinical development activities for its other potential product candidates, and for general corporate purposes, including working capital."
According to me, PROVENGE still stands a good chance of approval, but it will probably require significant result improvements. It will not be easy for the company to get all that data in 2007. However, if the company is able to provide good results and PROVENGE gets approved, we can see the stock price hovering in low 20's IMO.
Investors of DNDN are filing lawsuits against the company for misleading investors. I have yet to dig more into that. I think thats just an overreaction from angry investors.
At last, I would like to say that there is a chance that PROVENGE may not get approved. Thus, this is not a play for the faint hearted. This is a High Risk play.
Position: The writer had no position in DNDN at the time of writing this article.
