TheStreet.com Inc. Booted Off Russell Index. Adams Fault? (HEB, CTIC, OCLS, VNDA, TSCM)

By Admin on 07/09/2009 – 6:00 am PST -- Biotech

Guess who got booted off the Russell 3000 index? TheStreet.com, Inc. (NASDAQ:TSCM).

One of the biotech “journalists” Adam Feuerstein of TheStreet.com has consistently written negative articles on at least four stocks that I am aware of. Two of those stocks,Hemispherx BioPharma, Inc (AMEX:HEB), and CellTherapeutics, Inc. (NASDAQ:CTIC) both have gone up over 450% year to date. Perhaps Adam is just not a fan of stocks that perform well in these market conditions. It appears to me that Adam might not like any stock that has a market cap above TSCM’s 59 Million.

I found it ironic that just as Adam stirs up a ruckus in the biotech community TSCM gets the boot from the Russell 3000 index. Meanwhile CTIC and HEB actually got added to the index! So the question I have now is why did TSCM get the boot? Is Adam to blame? Adam did cause a “patient safety issue and putting public safety at risk” when he commented that Oculus Innovative Sciences’ (NASDAQ:OCLS)drug was “containing common diluted bleach.” After comments like those, many think Adam has lost all credibility. Then again, I would not expect too much more from a Political Science major commenting on a Biotech stock.

I would like to think Adam actually has made some accurate reports on Biotech stocks but I just can’t find any. Then again I didn’t look too hard, stopping after finding a few negative and often inaccurate articles. I found another recent case where Adam was dead wrong, it was Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)that shot up 900% on approval of their schizophrenia drug.

I look at Adam’s articles and I think of all the money that could have been made doing the opposite of what he says. I want to know how Adam can be mistaken so much of the time. I never make mistakes, I thought I did once but I was mistaken. Hindsight is always 20/20 and you can’t blame a guy too much for stating his “opinion” in the name of  “journalism” but if I were Adam I might take it easy on the articles for awhile. Adam’s negative articles have been known to take place suspiciously right after or during massive declines in share price of up to 50%. Are the massive declines just people reacting to Adam’s articles?

Why did the massive decline with HEB take place a few minutes before Adams’s negative article was released? Who knows, it is a volatile stock. What I do know is that TheStreet.com was co-founded by Jim Cramer who openly admitted to manipulating stocks using news outlets like CNBC. So now this recent “journalists” activity from TheStreet.com really raises suspicion. The SEC never took any action with Jim Cramer so I doubt any investigation or action will be taken against TheStreet.

Let us know what you think of Adam Feuerstein on the FavStocks.com stock forums. We have a dedicated thread just for the VIP Adam and look forward to your feedback both positive and negative. Make sure to check out the FDA Calender too

http://www.favstocks.com/forum/

  • Chris

    Let’s hope this douchebag needs one of these products some time in his life to live and he gets denied it’s use. Would be well deserved!!

  • southernbeachguy1960

    This was passed on from another Posting service. It looks like some of these companies that have had people Slander them are not going to take it anymore. If Adam keeps it up he may have to defend himself in Court rather than on Blogs.

    TORONTO, Sept. 9 /PRNewswire-FirstCall/ – The following two issuers (HTDS) http://www.htdsmedical.com and (LDSR) http://www.landstarcorp.com announced today that its investor relations firm, Mina Mar Group is offering a cash reward program designed to track down, and prosecute individuals attempting to manipulate the prices of its clients’ stocks, including HTDS, and LDSR and to expose the identity of any persons who slander or defame its clients while hiding their identity.

  • osiris

    Adam Feuerstein did the same thing for OSIR. September 3 and 4 stock went down a bit before Labor day weekend. After the first dip on September 3, 2009, he posted a story entitled:

    “Osiris Tanks on Data Leak?”

    And made innuendos about data leaking from OSIR. Even though it later turns out OSIR didn’t get the data until market close on Sept 4, 2009 (Friday) after market close.

    They mulled it over the weekend and release results when market opened on Tuesday September 8, 2009. Stock went down further.

    Meanwhile Adam Feuerstein kept posting, emphasizing it was a pattern of problems.

    When it turns out the trial results were a simple outcome of having more of the severe patients in the drug arm of the trial. So comparing the overall numbers was not representative. Basically OSIR did better than the placebo on all the subsets, yet did bad on the overall numbers because of this mismatch.

    One analyst got the executive to reveal this during the conference call.

    Some article took care to emphasize the strong response on severe patients of the drug.

    But not Adam Feuersteing of course.

  • Forde Oppenheimer

    The same has been taking place concerning Novavax (NVAX). The endless barrage of attacks by TheStreet.com has erroded the faith of stock holders, bashing the company as simply a swine flu stock, when in reality Novavax is anything but a one hit wonder. Novavax has a deep pipeline of drugs in human trials which consist of:

    HIV (AIDS) with funding support from the National Institutes of Health. Scientific collaborators at Harvard Medical School, Emory University and the University of Alabama – Birmingham, have conducted pre-clinical testing using the vaccine.

    H5N1 (Avian flu) whick has completed human phase II with +94 efficacy.

    VZV (Varicella Zoster), Current vaccine provides ~50% efficacy. Government has issued a universal recommendation for all US citizens 60 years of age to be vaccinated against VZV.
    Potential advantages of Novavax’s VZV vaccine:

    •Broad immune response
    •Potential safety advantages because of lack of replication
    •Manufacturing efficiencies: live VZV not needed for process
    •Vaccine is currently in discovery/preclinical development.

    H1N1, passed animal trails (100% efficacy) and now in human trials with same results.

    These are just few of the vaccines in Novavax’s pipeline, so why does TheStreet.com continue hounding this company, steadily trying to beat the company into bankruptcy? I have my suspicions, but will not post them without proof, something TheStreet.com should learn to do.

  • pete

    You forgot HGSI !

  • Susan

    And CVM too!

  • R. Vangala

    Same with DNDN, HEB, ANX and CVM. With CVM he was thrashing the stock, while another Street.com contributor, Hal Mintz who runs BAM LLC. unloaded 10 million shares a few days before. I have complained to SEC- others state it is not going to help. But you to begin complaining to SEC until they get drowned. Retail investors at a political science major’s mercy esp. when he touts or mostly THRASHES biotech. He has survived so far because BIG BOYS in Wall Street are protecting him. This has to come to an end.

  • Justmeinnh2

    Now you can add Adventrx (ANX) to that idiots (Adam Feuerstein) list…

  • mike

    a.f did a number on ariad, ARIA. THANKS ALOT A.F aka duetchebag.

  • Dave

    Well, I don’t follow Adam F.’s writings very closely anymore, although I used to. I will say this for him, Adam F. exposed Genta (GETA.OB) for the liars they are. (Formerly its symbol was GNTA. The reason for the symbol change was that it got kicked off the NASDAQ and other developments.) Adam called that stock “to a tee”. His view was proven correct. And Genta has been one of the biggest scams in the biotech world. All it does is continually dilute shareholders by means of reverse splits, PIPE’s and deals favoring “noteholders” at the expense of shareholders. And the CEO, Warrell, is one of the noteholders! The list of his lies to shareholders is as long as your arm. Find its chart on a site that can follow it back through all its permutations, say 10 years, and you’ll be amazed and disgusted by the chart.

    And what Genta does “clinically” is to run trials on failed and discarded drugs. (Although it just *might* have a ray of hope with oral Ganite, but not likely.)

    Anyway, Adam did call GNTA correctly. It would have behooved shareholders to listen to him. I don’t know enough to write about his opinions about other stocks than Genta.

  • Jim

    Maybe it just took awhile for his comments on CTIC to become reality. It is now trading at $0.21.

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