Horizon Pharma PLC (HZNP) $13.30. Added a new position in HZNP on Tuesday. Certainly a Special Situation. This issue normally would not have passed my scrutiny nor even come across my radar, but when a $2.17B business drops almost 27%, and you hear from an award winning analyst (talking his book or not) that the baby was just thrown out with the bath water. it’s hard not to take a closer look. Special Situations requires special handling.
Limped in at my minimum 2-1/2%. Used a limited order of $13.30 at mid-day when it was trading at about $13.86. Order was finally filled in the final 1/2 hour.
I don’t see much more downside from this level. If it holds $12.50 before reversing to $14.50, the trade should be vilified and I would expect the price to creep upwards from there after management gets back on track within a quarter or two.