On Monday, drugmaker Mallinckrodt (MNK) filed for bankruptcy, amid thousands of U.S. lawsuits related to the opioid crisis.
You could see this coming..
Way back on May 21, 2019 we wrote a story about Mallinckrodt and said that, "MNK is circling the drain. Don't go down with it."
The Point and Figure chart showed us the way, "In this weekly close only Point and Figure chart of MNK, below, we can see how weak the price action is and there is a downside price target of zero. Not pretty."
In this updated Point and Figure chart we can see the grim reality.
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