After entering the UK Stockchallenge for the first time this year I found myself religiously checking my position in the league table every evening, often before checking how my actual holdings had done. This was competitive investing and with no hiding place. I also entered the monthly challenges a couple of times. With the monthlies, for anyone who hasn't taken part (yet), you can short, whereas with the year-long main event you can only go long.
Apologies to holders but shorting ImmuPharma (LON:IMM) was my one short both months I took part. I haven't read the details but judging by today's - 76% SP fall the Lupuzor phase III results fell short. Some aren't writing it off, though, from the few posts I just read. Maybe the SP could climb back.
Soon after I got back into investing a couple of years ago I briefly considered buying in but eventually became unsure about the management and, more importantly, the phase II trials gave me no confidence in the drug itself. And yet, what would I have lost? It's only a few pence cheaper than when I questioned it back then -here. This may be due to the fact it has a lot of cash in the bank now thanks to awell-timed fund raise a month ago. I remember investing in British Biotech back in the early 00s, I think it was, and it looks an all too familiar scenario.
I occasionally visited the ADVFN chat and it got increasingly mental. The expectation was for Lupuzor to conquer not only Lupus but to go on to treat a multitude of other major disease groups connected to immune system problems, and consequently shares would soon be trading at hundreds of pounds each. I'm sure some holders are in shock right now and I know I'd feel gutted and angry. I don't know, maybe something can be salvaged, some still sound hopeful.
Ah, but what do I know anyway. With the UK Stockchallenge I'm only making good pretend progress - unlike my actual investments, which I sold out of recently, having hardly made a bean this year and living in nervous exhaustion fearing a market crash. With the year contest I'm currently 33rd (out of 516 entrants), and in the April table second. With the former…
