MannKind, like most other US stocks has been struggling through recent days pushing the stock to lows that we haven’t seen in quite some time. However, today the stock has stayed above the green line while struggling to maintain momentum. Although the bears are continuing their attempt to push the stock down, it seems as though the bulls may have found support. Today, we’ll take a look at what’s going on in the market as well as chat about why I believe MNKD is a good opportunity for gains. So, let’s get right to it…
MNKD In The Market Today
MannKind is having a roller coaster of a day in the market today. The stock started with an explosive move toward the top before falling below the green line for the first – and only – time it has happened today. Since then, following the stock has been a lot like riding a seesaw. There have been ups, there have been downs, but at the end of the day, we’re still basically in the same spot. At the moment (12:00), MNKD is trading at $3.37 per share after a gain of 1.81%.
Why MannKind Provides A Strong Opportunity
If you’ve followed CNA Finance for any length of time, you know that when it comes to MannKind, I’m a bull and I have been for quite some time. The bottom line is that while shorts manipulate the stock, I, like many other investors, see great potential. Here’s why I see MNKD as a great opportunity…
- Price – First and foremost, price plays a key role. I’ve never been one to get excited about over-valued stocks like AMZN and NFLX. However, I don’t see MNKD as overvalued. Instead, manipulation has driven the price of MannKind down far further than it should have been allowed to; unfortunately, this happened at the expense of real investors. Nonetheless, the price is down substantially, and that opens the door for investors. The reality is that undervalued stocks will climb over time, and thanks to short manipulation, MNKD is incredibly oversold and ridiculously undervalued at the moment.
- Product – MannKind has one product that is currently FDA approved. It’s called Afrezza. Afrezza is an inhaled, before-meal insulin that alleviates the need for a shot. The ability to offer insulin through an inhaler was brought about by MannKind’s proprietary technology known as technosphere. Think about that for a moment. Do you know any insulin dependent diabetics? If so, would you have thought 10 years ago that one day they may be able to throw away the needle? To me, that is absolutely incredible!
- Pipeline – Finally, Afrezza isn’t MannKind’s only hope. It is a great innovation in the field of medicine, but it’s not MNKD’s only option. MannKind has openly announced that they are working on using technosphere as a way to deliver other medications to the body; one, which is looking incredibly promising, is a pain management treatment. The reality is that MNKD isn’t stopping with Afrezza; it’s just a stepping stone.
What Do You Think?
Where do you think MNKD is headed and why? Let us know in the comments below!