Today, Schering-Plough closed below $20. The rest of the market was up, but not SGP. SGP has now lost 40% of its value since high of $33.81.
In fact, Schering-Plough has erased all gains since the summer of 2003, when Hassan became CEO and SGP traded around $20.
The only good news for Teflon-Hassan is that he didn't spend $2 million of his own money to buy stock when he announced he would buy more SGP stock, last week.
Instead, he is waiting until mid-February to spend that money. Not that his announcement made any difference, in fact, it may have helped put SGP into continued tail spin.
Most analysts realized that if Fred was only willing to spend 2% of his net worth on downbeaten SGP stock they wouldn't spend any of their money buying.
C'mon Fred, spend the $28 million Carrie sold and show you believe in the company!
And Carrie, how about putting back your gains from that sale in SGP stock? BrandweekNRX dares you!
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