6 Tweets Tell The Aurinia Pharma Story
Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) shares are down more than 20 percent Tuesday after nearly tripling in a month’s time. For traders wondering how the stock lost its mojo, the Twitter feed of TheStreet columnist Adam Feuerstein tells the story.
Related Link: 7 Tweets That Ruined Careers
The Aurinia rumors started at around 1 p.m. Monday, when Feuerstein reported hearing that the company intended to raise $100 million.
$AUPH looking to raise $100M, source tells me.
— Adam Feuerstein (@adamfeuerstein) March 13, 2017
A few minutes later, he got more specific, tweeting the deal could involve selling 15 million shares in the $6.25-$6.50 range.
$AUPH — hearing 15M shares offered at $6.25 to $6.75. Demand strong, could raise price.
— Adam Feuerstein (@adamfeuerstein) March 13, 2017
At 1:44 p.m., Feuerstein continued his tweetstorm by telling his followers Aurinia “is doing a great job raising money tonight.”
Please, please read this thread fro an investor pro so you’ll understand why $AUPH is doing a great job raising money tonight. https://t.co/w4honEFq24
— Adam Feuerstein (@adamfeuerstein) March 13, 2017
When followers criticized his take on the pricing of the deal, Feuerstein fired back.
Yes. Long-term, fundamental investors buying $AUPH deal aren’t paying a premium for your momentum-fueled trading. https://t.co/V8FCfIf6qX
— Adam Feuerstein (@adamfeuerstein) March 13, 2017
On Tuesday morning, he reported that the offering had officially been upsized to 22.3 million shares at $6.75/share.
$AUPH upsized its offering to 22.3M shares. Priced at $6.75. Brings in $150M.
Excellent work, guys.
— Adam Feuerstein (@adamfeuerstein) March 14, 2017
While the stock may have lost its short-term momentum following the offering, Feuerstein believes the fundraising and the price were excellent for long-term investors. He concluded his tweetstorm with a shout out to all the people who doubted his motives on Monday afternoon.
To my Twitter fans who accused me of being manipulative or lying last night when I told you the $AUPH pricing. pic.twitter.com/GgdkIhY3tp
— Adam Feuerstein (@adamfeuerstein) March 14, 2017
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