10-21-2015, 01:53 PM
As Valeant crashes by 30%, I cant help but chuckle and simply feel sorry for the get-rich-quick schemes. On the surface, it may seem like a great business idea - buy rights to drugs, raise drug prices by a few of thousand percentage points, profit. Rinse and repeat.
It has been alarming to see "investors" salivating and driving up the price and this summer, VRX's market cap was higher than Royal Bank's market cap - making it the largest company in Canadian corporation landscape.
http://www.theglobeandmail.com/globe-inv...e25642880/
I understand that one cannot directly compare a financial and pharma company - but I think we can still learn a lesson here. It doesnt take much to bring down these fast risers and important not to get caught up in the mayhem. Will be interesting to see where things go. Media is starting to calling it the Pharmaceutical Enron.
I watch from the sidelines with my popcorn
It has been alarming to see "investors" salivating and driving up the price and this summer, VRX's market cap was higher than Royal Bank's market cap - making it the largest company in Canadian corporation landscape.
http://www.theglobeandmail.com/globe-inv...e25642880/
I understand that one cannot directly compare a financial and pharma company - but I think we can still learn a lesson here. It doesnt take much to bring down these fast risers and important not to get caught up in the mayhem. Will be interesting to see where things go. Media is starting to calling it the Pharmaceutical Enron.
I watch from the sidelines with my popcorn
