Getting a lot of emails and comments on Biovest and Accentia.  Some suggest that I need to do more homework on the bankruptcy proceedings for these two companies, and I couldn’t agree more.  As I pointed out in the earlier post, I am uncomfortable trading this without a solid understanding of the plans of reorganization and the status of the bankruptcy proceedings.  I’m just not willing to trade a bankruptcy-related stock unless I am convinced that the common will not be canceled or diluted beyond recognition.  So you all are right — every trader in Biovest and Accentia needs to do their homework on the reorganizations.  If anyone has a link to the plans of reorganization please post in the comments.  Otherwise I’ll try to dig it up from the SEC filings or court filings when I have the chance.

Another reader, Moe, commented that I was “picking the wrong horse” by focusing on Biovest rather than Accentia.  To be clear I haven’t picked either for my personal portfolio, but his point is well taken.  Both are on my watchlist.  Here is a chart of Accentia:

Get an updated  ABPIQ trend analysis or a risk free trial of MarketClub (unlimited live, real-time signals with audio interpretation) courtesy of Ino.

DISCLOSURE: no positions.

Related posts:

1. Penny stock Secured Digital Apps. (SDGL.PK) looks like it may ramp
2. Sold gold
3. Suspicious trading in NextWave Wireless (WAVE)