-=CVS Health (CVS) reported earnings on Thur 1 May 25 (b/o)

 

Novo Nordisk A/S announces that CVS Caremark, the country's largest Pharmacy Benefit Manager has decided that Wegovy injection 2.4 mg, the most widely prescribed and studied GLP-1 for weight loss, will soon be the preferred GLP-1 medicine on its largest commercial template formularies

• Wegovy will be the preferred GLP-1 medicine for obesity on the largest commercial template formularies for CVS Caremark, the largest Pharmacy Benefit Manager in the US, effective July 1, 2025.
• Novo Nordisk is focused on new ways to drive access and affordability for Wegovy, the most widely prescribed and studied GLP-1 for weight loss that is fully available nationwide.

CVS Health beats by $0.55, reports revs in-line; raises FY25 EPS above consensus

• Reports Q1 (Mar) earnings of $2.25 per share, excluding non-recurring items, $0.55 better than the FactSet Consensus of $1.70; revenues rose 7.0% year/year to $94.59 bln vs the $93.66 bln FactSet Consensus.
• Co issues upside guidance for FY25, sees EPS of $6.00-6.20, excluding non-recurring items, vs. $5.92 FactSet Consensus and prior guidance of $5.75-6.00.
  • Raised cash flow from operations guidance to approximately $7.0 billion from approximately $6.5 billion
• CVS Health to exit the individual exchange business

Earnings this week : Apr 28 - May 2, 25 (wk 18)

Monday (April 28)

• Morning: BKU DPZ INMD RVTY ROP

• Afternoon: ABCB AMKR ARE BRO BRX BYON CCK CDNS CDP CINF CNO CR CVI FFIV HLIT KFRC LEG NE NOV NUE NWBI NXPI PCH PDM RIG RMBS SANM SBAC SSD TER UCTT UFPI UHS WELL WM WWD

Tuesday (April 29)

• Morning: ABG AMT AOS ARCB ARCC ASTE AWI AZN BP CBU CECO CLVT CVLT CWK DEA EAT ECL EPD ETR FCF FELE FOUR GLW GM HLMN HLT HON HOUS INCY JBLU JKS KHC KO LGIH LH MO NEO NSP NVS OMF OPCH PCAR PFE PII PJT PUMP PYPL RCL REGN RGEN SBSI SCL SFD SHW SOFI SPGI SPOT SYY THC TRS VRNA XYL ZBRA

• Afternoon: AKR ACGL APAM ATRC BHE BKNG BBIO BXP CZR CWH CSGP EIX ENVA ENSG EQH EQR ESS EXLS EXE EXR FICO FIBK FSLR FLS FRSH FYBR GIL HIW HI HURN LC LFUS MIR MDLZ MSA NBR NMIH NOG NWE OI ODD OKE PPG QRVO REG RBBN SAGE STX SIMO SNAP SON STAG SBUX LRN TENB TX UMBF UNM VLTO VICR V WPC WERN WSBC

Wednesday (April 30)

• Morning: AER ADP AVT GOLD BLCO BLKB BIP CAT GIB CHEF CLH CSTM DAN DFIN DTM EME ETSY EVR XPRO EXTR FSS FDP GRMN GTES GEHC WGS GNRC ROCK GSK HES HESM HUM ITW IP IONS LANC LECO LINE MLM NAVI NWL NMRK NCLH OSW OSK PSN PAG PPL PEG REYN SMG SLGN SITE SR SWK SXC COCO TKR TW TT UTHR VMC WNC WDC WING XPO YUMC YUM

• Afternoon: AEIS AFL AIN ALB ALGN ALKT ALL AM ANSS AR ASH AVB AWK AX AXS BE BHC CACC CAKE CCI CDNA CFLT CGNX CHRW CNMD CP CRK CTOS CTSH CWAN CWEN DLX EBAY EG ENVX EQIX FCPT FMC FORM FTAI GFL GH GKOS GL GRBK HCC HLF HOOD HST ICLR INVH IRT KLAC MAA MAX MCW MEOH MET META MGM MGY MSFT MTG MYRG NFG NTGR OPK PPC PRU PSA PTC QCOM RDN RGR RSI RYN SCI SFM SKT SNBR TDOC THG TNC TNDM TROX TS TSLX TTMI UDMY UDR VICI VTR WAY WEX WH WHD

Thursday (May 1) 

• Morning: AAON AGCO AGI AIT ALKS ALNY AME APD APG APTV ARW ATI BAX BBAI BDC BDX BIIB BLDR BR CAH CARR CCJ CFR CHD CNH COMM CVS CWT D DBRG DINO DNB DRS DTE ECVT EL ESAB EXC FOLD FTDR FTV GPK GTLS GVA GWW H HAYW HGV HII HOG HSY HUBB HWM ICE IDA IDCC IDXX IEX IRM ITRI ITT JHG K KEX KIM KKR LAUR LIN LLY LXP MA MCD MDGL MGPI MPW MRNA MTRN NNN NSIT NVRI OCSL OGN OIS OSIS OTEX PATK PBF PH PNW PWR RBLX SHAK SHC SIRI SNDR SO STNG SW TFX THRY TRI TRN TRP UPBD UTZ VAL VNT W WCC WD XRX

• Afternoon: AAPL ABNB ADPT AEE AIG AJG ALHC ALSN AMGN AMH AMZN ARDX ATEC ATEN ATR BIO BJRI BMRN BZH CART CNI COHU COLM CPT CUBE CUZ CWST DLB DRH DXCM EEXAS EIG ELME EOG ES EXPO FIVN FND GDDY GDYN HL HOLX HR HTGC HUN ICFI IR IRTC JNPR KWR LMAT LOCO LUMN LYV MHK MPWR MSI MSTR MTD MTZ NVEE NVST OHI OLED OLN PCOR PCTY PEB PRDO PRO RDDT RGA RHP RIOT ROKU RRR RYAN SEM SKWD SM SPXC SVV SYK TEAM TREE TRUP TWLO ULCC VIAV WK WSC X XYZ ZETA

Friday (May 2)

• Morning: AES AIRS APO ATMU BEN BTSG CBOE CI CNK CRTO CVX DD ETN FLGT FLR FUBO IMO MGA MT NVT PIPR PRLB PWP SNCY TEX TILE TROW WEN WLK WT XHR XOM

Unusual Options Activity Fri 2/2/24

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• CVNA Feb 43 calls (volume: 4510, open int: 1120, implied vol: ~125%, prev day implied vol: 93%). Co is expected to report earnings mid-February.
• BILL Feb 78 calls (volume: 2070, open int: 20, implied vol: ~74%, prev day implied vol: 65%). Co is confirmed to report earnings February 8 after the close.
• CVS Feb 75 calls (volume: 4140, open int: 210, implied vol: ~42%, prev day implied vol: 37%). Co is confirmed to report earnings February 7 before the open.
  

Bearish Put Activity:

• CNK Feb 13 puts (volume: 1790, open int: 0, implied vol: ~69%, prev day implied vol: 52%). Co is confirmed to report earnings February 16 before the open.
• MPW Feb 3 puts are seeing interest with the underlying stock down 4% (volume: 40.9K, open int: 6.3K, implied vol: ~101%, prev day implied vol: 97%). 20K traded in a single transaction. Co is expected to report earnings mid-February.
  

Sentiment: The CBOE Put/Call ratio is currently: 1.00, VIX: (13.98, +0.10, +0.7%).
February 16 is options expiration -- the last day to trade February equity options.

Unusual Options Activity

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• CVBF May 12.5 calls (volume: 3090, open int: 0, implied vol: ~183%, prev day implied vol: 108%). Co is expected to report earnings late July.
• ONON May 30 calls (volume: 1660, open int: 150, implied vol: ~82%, prev day implied vol: 76%). Co is confirmed to report earnings May 16 before the open.
• CVS May 71 calls (volume: 3250, open int: 590, implied vol: ~42%, prev day implied vol: 41%). 1200 contracts traded in a single transaction. Co is expected to report earnings early August.

Bearish Put Activity:

• HOG May 35 puts (volume: 2080, open int: 0, implied vol: ~69%, prev day implied vol: 54%). Co is expected to report earnings late July.
• LPSN May 6 puts are seeing interest with the underlying stock up 17% (volume: 2580, open int: 0, implied vol: ~155%, prev day implied vol: 141%). Starboard delivers open letter to LPSN stockholders. Co is confirmed to report earnings Tuesday before the open.

Sentiment: The CBOE Put/Call ratio is currently: 0.91, VIX: (17.38, -2.71, -13.5%).
May 19 is options expiration -- the last day to trade May equity options.

Amazon (AMZN) launches digital pharmacy

• That launch has been expected for some time, although the exact timing was uncertain. Well, that time has arrived, as Amazon's pharmacy services are now available in 45 states, with the other five states expected to be added in the future.
• This expansion puts the e-commerce company into more direct competition with pharmacy giants, such as CVS and Walgreens Boots.

 

 

(Bloomberg)—Amazon.com Inc. unveiled its biggest push into selling prescription drugs with the launch of a digital pharmacy and discounts for paying U.S. Prime members that sent shock waves through shares of drugstore chains and distributors.

The e-commerce giant on Tuesday unveiled Amazon Pharmacy, a section of its retail website and mobile application that lets people order medication. Shoppers can pay using their health insurance. Prime members who don’t use their insurance are eligible for discounts on generic and brand-name drugs on Amazon’s site or at about 50,000 participating pharmacies.

Amazon’s new offering comes more than two years after its $753 million acquisition of PillPack, an online pharmacy known for organizing prescriptions into packets. This expansion puts the Seattle-based e-commerce company into more direct competition with pharmacy giants CVS Health Corp. and Walgreens Boots Alliance Inc., the two largest chains in the U.S.

The move also helps Amazon compete with Walmart Inc. and other big-box stores that already sell prescription drugs.

Analysts have long expected Amazon to dive deeper into health care in a bet the company can bring its digital real estate and logistical prowess to bear on a roughly $4 trillion industry in the U.S. with a reputation for inefficiency. The company rattled drug retailers with its PillPack acquisition, but Amazon has been slow to integrate the online pharmacy startup into its offerings.

The announcement Tuesday marks the first time that shoppers can order prescription drugs directly on Amazon. Previously, they were redirected to PillPack’s website. An integrated pharmacy removes one of the few gaps in Amazon’s offerings compared with major big box and grocery rivals, some of whom have long filled shoppers’ prescriptions in the same stores where they sold flat-screen televisions or cans of soup.

The discounts are a clear play for people who pay for their medications with cash, whether they are uninsured or are looking to save money. Strong demand for transparency and better deals have helped fuel the rise of discount card programs like GoodRx Holdings Inc. Amazon will display both the price when using insurance and the price without. Infusing transparency into a system that has been frustratingly opaque for consumers could alter the supply chain.

Amazon’s entry into a market doesn’t guarantee its dominance. Drugstores have long insisted that patients prefer to talk to their pharmacist at the counter, an experience Amazon will try to recreate digitally.

Amazon Chief Executive Officer Jeff Bezos has positioned Prime, Amazon’s paid membership program, at the center of the company’s efforts to create loyal customers. What was originally an unlimited shipping program has grown in recent years to include video streaming, games and digital storage, and discounts at Amazon-owned Whole Foods Market.

-=CVS Health (CVS) reported earnings on Wed 20 Feb 2019 (b/o)

CVS Health beats by $0.08, beats on revs; guides FY19 EPS below consensus

• Reports Q4 (Dec) earnings of $2.14 per share, excluding non-recurring items, $0.08 better than the S&P Capital IQ Consensus of $2.06; revenues rose 12.5% year/year to $54.42 bln vs the $53.78 bln S&P Capital IQ Consensus.
• Co issues downside guidance for FY19, sees EPS of $6.68-6.88, excluding non-recurring items, vs. $7.34 S&P Capital IQ Consensus. The Company's full year 2019 consolidated GAAP operating income is projected to be in the range of $11.7 billion to $12.1 billion while adjusted operating income is projected to be in the range of $14.8 billion to $15.2 billion.

-=CVS Health (CVS) reported earnings on Tue 6 Nov 2018 (b/o)

CVS Health beats by $0.02, reports revs in-line; reaffirms FY18 EPS guidance

Reports Q3 (Sep) earnings of $1.73 per share, excluding non-recurring items, $0.02 better thanthe S&P Capital IQ Consensus of $1.71; revenues rose 2.4% year/year to $47.27 bln vs the $47.22 bln S&P Capital IQ Consensus.

Coreaffirms guidancefor FY18, sees EPS of $6.98-7.08, excluding non-recurring items, vs. $7.04 S&P Capital IQ Consensus.

Aetna (AET) transaction progress: All of the required change in control filings were submitted to 28 state insurance departments in January 2018. To date, the Company has received approval from 23 of the 28 states and we are well down the line with the remaining five. The transaction is expected to close prior to Thanksgiving.

Earnings this week : November 5 - 9, 2018 (wk 45)

Notable earnings out this week

Monday (Nov 5) 

• Morning: CNA CYOU DEA DO DXPE FOLD HRTX HUD INVH KMPR KOS L NS OHI PCG PEGI PGRE RACE RBC SEAS SHO SOGO SOHU  SYY
• Afternoon: ACHC AEL AKCA ANDE APLE APTS ATRO ATUS AVD AWR BE BHF BKD BKH BKNG CAR CBT CDEV CIR COHU CRZO CTRE CXW DCO DCP DRH DVAX ELF EVBG FMC FN FNV FRGI FRPT FTDR HHC IFF INSY IPAR ITRI IVC JCOM KMT LASR LDL LMNX LPI MAR MATX MOS MTW MWA MYL NBIX NTR NVRO OAS OTTR OUT OXY P PDCE PEN PLOW PTCT RARE RCII REN RNG RYAM SBAC SNHY STRL SYKE TBI TCMD THC TROX TRTX TVTY TWOU VVC VVV WTR 

Tuesday (Nov 6)

• Morning:  AAC ABC ADM AES AFI ANIP APD AVNS BCC BCPC BDX BHC BIOS BLD BR CBM COL CORE CTLT CVS DSKE ELAN EMES EMR ETM EXPD FI FRTA FSS GCP GLDD GLT GOGO GSKY GTN GTX HAE HLNE HPT HSIC IONS IRWD JELD JLL KEYW LABL LGIH LLY LPX LXP MBUU MFA MIDD MLCO MLM MNK MYE NHI NOVT NWN OCN ONCE ONDK ORA PINC PNM PQG PRIM REGN RHP RL SAGE SERV SNH STE SUM SYNH TAST TDG TRI UNT UNVR USAC USFD VER VPG VRTV WLK WLKP ZBRA
• Afternoon:  AAXN ACAD AIMT AIZ APEI ASH BEL BOLD BWXT CCS CGBD CHUY COHR CPE CSLT CUTR CWH DAR DATA DIOD DK DOOR DPLO DVN DXC DXCM EGN ENLC ENLK ENPH ETSY EVH EVRI FANG FIVN FTK FTR G GDDY GHDX GLUU HALO HEAR HCKT IAG ICHR INFN INGN INSP IOSP JAZZ JKHY KAR KTOS LC LNT MB MBI MED MODN MTCH MXWL MYGN NEWR NP OR PAA PAAS PAGP PAHC PLNT PLT PLYA PRA PRI PRMW PSEC PUMP PXD PZZA QDEL QHC QTWO RLJ RPD RRGB SCSC SEND SIEN SUPN SWX TAHO TRUE TSLX TWLO TWO UCTT VSLR VSM WEN WSC WTTR XEC XOG ZAGG ZG 

Wednesday (Nov 7)

• Morning: ALNY AMRX ANDX ASC AVA CARS CDK CLNY CNDT CNHI COTY CRL CSTE CSWI DF DISH DLPH ENBL FOXA GEO GIB GRPN HUM HZNP ITG KELYA KORS MDP MGLN MIDD MNTA NSIT ODP PFGC RCM RDWR ROK SBGI SGRY SMG SMI SO SPNS SRE TPB TSG VAC VGR VIRT WAAS WWW
• Afternoon: AAOI ADT ALB ALRM AMBC ANGI AYX CARG CTRP  CVNA CYBR FOSL FTD GDOT IAC KDP MCHP NUS NWSA OSTK QCOM ROKU SAIL SQ TIVO TLND TRIP TTWO UPWK WYNN ZAYO

Thursday (Nov 8)

• Morning: CAH CROX DISCA EBIX ENDP HAIN HII JCI SBH SGMS
• Afternoon:  ACB AGO AGS AL ALTR AMBR AMC AMPH AQN ARA ASRT ATVI BOJA BPI BRS BW CBPX COLD COLL CTL CYRX DBX DIS DOX ECOM EGAN EPAY ERI FGEN FNKO FOE FSCT FSM FTCH GMED HDP HTZ ICUI IMPV JAG JJSF LGF.A LOPE LPSN MCFT MIME MRAM MTD NNI NTRA OSTK PDFS PRAA RBA RDFN SCOR SENS SGMO SGYP SPPI SSRM SWIR SWKS SYNA TERP TRUP TRXC TSE TTD UEPS UIS UPLD VRAY VRTU WOW WPRT WSC XON XRAY YELP ZGNX

Friday (Nov 9)

• Morning:  ADNT ERF ESNT MGI MPAA OMER OXFD PBPB RDNT SSP STWD SUP TRCO UBNT
• Afternoon: ATHN GNC OPK   

=Aetna (AET) to be acquired by CVS Health (CVS) for $207 per share

CVS Health acquired Aetna (AET) for roughly $69B in cash and stock, creating the first healthcare triple threat that will combine pharmacy, benefit manager platforms and insurance. CVS's deal comes as insurers are under pressure to lower medical costs, and retailers are under attack from new competitors.

Aetna confirms acquisition by CVS Health (CVS) in transaction worth $207 per share ($145.00 per share and 0.8378 CVS Health shares for each Aetna share) 

• CVS Health (CVS) and Aetna (AET) announced the execution of a definitive merger agreement under which CVS Health will acquire all outstanding shares of Aetna for a combination of cash and stock. Under the terms of the merger agreement, which has been unanimously approved by the boards of directors of each company, Aetna shareholders will receive $145.00 per share in cash and 0.8378 CVS Health shares for each Aetna share.
• The transaction values Aetna at approximately $207 per share or approximately $69 billion
• Including the assumption of Aetna's debt, the total value of the transaction is $77 billion.
• Financing of the Transaction - CVS Health intends to fund the cash portion of the transaction through a combination of existing cash on hand and debt financing.
  • The transaction is not contingent upon receipt of financing. Barclays, Goldman Sachs and Bank of America Merrill Lynch are providing $49 billion of financing commitments.

Many analysts view the combination of CVS and Aetna as a defensive move by the companies. CVS Health, which also recently signed an agreement with Anthem to help the insurer start its own internal pharmacy benefit manager, is looking to protect its business with Aetna as it fends off rivals like UnitedHealth Group’s OptumRx and others. Aetna, foiled in its attempt to buy Humana, is searching for new ways to expand its business.

The merger could also fundamentally reshape the business of overseeing drug coverage for insurers, an industry that is dominated by three large players and that has increasingly come under scrutiny over the past year as public anger over high drug prices has expanded beyond the usual culprits — most notably the pharmaceutical industry — to lesser-known players like pharmacy benefit managers.

A combination of a drugstore company and an insurer is considered less problematic than a merger of two players in the same business, which could reduce competition and hurt consumers. Such concerns ultimately sank Aetna’s efforts to buy Humana, and Anthem’s push to buy Cigna, when the Obama administration signaled its opposition to such consolidation.

CVS’s proposed takeover of Aetna is a so-called vertical merger, combining companies in two different industries. But while such deals have traditionally met little opposition in Washington, the Justice Department has sued to block AT&T’s $85.4 billion takeover of Time Warner on the grounds that it would create too powerful of a content company.

David A. Balto, an antitrust lawyer who has been sharply critical of combinations among insurers and pharmacy benefit managers, said that he was wary of having retailers in charge of people’s health. He argued that doctors may be in a better position to treat illness than retail executives.

Long trade : CVS +9% (9/17)

a)  29 Aug:  #1, 29  vol. 4.6M   →  +9%
b)  30 Aug:  #97   vol. 3.6M  →  +8%

  

=CVS Health (CVS) reported earnings on Tue 8 Nov 2016 (b/o)

CVS Health beats by $0.07, misses on revs; issues downside guidance due to pharmacy marketplace changes, approved a new share repurchase program  :

• Reports Q3 (Sep) earnings of $1.64 per share, $0.07 better than the Capital IQ Consensus of $1.57; revenues rose 15.5% year/year to $44.62 bln vs the $45.29 bln Capital IQ Consensus. 
• Co issues downside guidance for Q4, sees EPS of $1.64-1.70 vs. $1.79 Capital IQ Consensus Estimate.
• Co issues downside guidance for FY16, sees EPS of $5.75-5.83 vs. $5.85 Capital IQ Consensus Estimate. The Company raised cash flow guidance for 2016 and now expects to deliver cash flow from operations of $9.3 billion to $9.5 billion and 2016 free cash flow of $6.8 billion to $7.0 billion.
• Co issues downside guidance for FY17, sees EPS of $5.77-5.93 vs. $6.53 Capital IQ Consensus Estimate. 
  • Included in this outlook is the impact from the projected loss of more than 40 million retail prescriptions related to marketplace changes, including new retail pharmacy networks that are excluding CVS Pharmacy drugstores.
• Co's board of directors approved a new share repurchase program for up to $15 billion of the Company's outstanding common stock. Combined with the approximately $3.7 billion that remains from the 2014 program, the Company has approximately $18.7 billion available for share repurchases.
• "We posted a solid third quarter with the PBM exceeding our expectations and retail performing at the lower end of our expectations. However, very recent pharmacy network changes in the marketplace are expected to cause some retail prescriptions to begin migrating out of our pharmacies this quarter. In addition, we are currently experiencing slowing prescription growth in the overall market as well as a soft seasonal business. These factors combined are leading us to reduce the mid-point of our guidance for this year by five cents per share. The network changes have more significant implications for our 2017 outlook. While we expect a healthy increase in PBM operating profit growth in 2017, we expect a decrease in retail operating profit growth."

CVS Health (CVS) reported earnings on Tue 2 Aug 2016 (b/o)

** chart 5 days before earnings **

** charts after earnings **

 

**   10 days later **

CVS Health beats by $0.02, misses on revs; guides Q3 EPS in-line; raises/narrows FY16 EPS :

• Reports Q2 (Jun) earnings of $1.32 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.30; revenues rose 17.6% year/year to $43.73 bln vs the $44.28 bln Capital IQ Consensus. 
  • Revenues in the Pharmacy Services Segment increased 20.7%, or $5.1 billion, to $29.5 billion in the three months ended June 30, 2016. The increase was primarily driven by increased pharmacy network claim volume and growth in specialty pharmacy. Pharmacy network claims processed during the three months ended June 30, 2016 increased 22.6% to 280.5 million, compared to 228.8 million in the prior year.
  • Revenues in the Retail/LTC Segment increased 16.0%, or $2.8 billion, to ~$20.0 billion, in the three months ended June 30, 2016. The increase was primarily driven by the addition of the long-term care pharmacy operations acquired as part of the acquisition of Omnicare, Inc. in August 2015, the addition of the pharmacies and clinics of Target Corporation acquired in December 2015 and pharmacy same store sales growth. Same store sales increased 2.1%. Pharmacy same store sales rose 3.9% and pharmacy same store prescription volumes rose 3.5% on a 30-day equivalent basis. Pharmacy same store sales were negatively affected by ~355 basis points from recent generic drug introductions. Front store same store sales decreased 2.5%, including the effect of the shift of Easter from April in 2015 to March in 2016, which resulted in a decrease in front store same store sales of ~80 basis points. Front store same store sales were also negatively affected by softer customer traffic, partially offset by an increase in basket size.

CVS reported earnings on 9 Feb 2016 (b/o)

** chart after earnings **

CVS — is it a buy? Or a sell?

• $88.02 after earnings on 2/9/16 

The next day was a buy point with a significant leg UP.

CVS — is it a buy?

• $96.31 on 2/1/16 

No. Rolled over. Earnings on 9-Feb.

CVS — is it a buy?

• $98.57    on 12/23 

No. CVS rolled over 2 days later.

CVS — is it a sell?

• $98 after the drop on earnings on 10/30

• 2 weeks later, it's down about 7%

CVS reported earnings on 30 Oct 2015

** charts after earnings **

Great trade : CVS (7/15)

• Great run for about 2 months

•  Then the largest red candle in months, in overbought conditions. SHORT.

•  3 months later stock is still not buyable