Well here was a good one today. I'm long Dndn but hadn't been following it today. It ran up to $25 and then: "Dendreon's stock, however, suffered a nasty and unexplained blow in a couple of minutes before trading was halted on the Nasdaq exchange ahead of the announcement of the trial results. Between 1:25 p.m. and 1:27 p.m., the stock price fell 69%, to 11.81, at which point trading was stopped. The Nasdaq initially thought a broker's error was to blame for the drop, but later announced the stock trades would stand, according to Bloomberg. The shares more than doubled when trading resumed after hours. " It actually dropped to $7.50 and traded back at $27 after trading resumed once the test results were announced. Needless to say there are alot of pissed off ex-shareholders who had used protective stops on their shares only to see them executed during this nose dive at low prices, and the stock trading at $27 shortly after.
Nothing will come from it, the government agencies will look the other way. You can bet Goldman profited from the manipulation.
The large short position had to manipulate itself out of a huge loss. Worked out well. They got out with a mild loss, then bought it up for a huge gain.
analysts are talking mid 40's based on efficacy, non chemo aspects. But the manipulation, WHICH WILL BE ADDRESSED, shows you the naked shorters are still there. Think Crox, Hans, this time with fundamentals. Anything is in play, and bet I'll be there, licking my chops.
http://finance.yahoo.com/news/Dendreon-shares-surge-after-apf-15065653.html?.v=1 all trades stand. what was the volume when it dropped below 20?
media is saying all trades stand but that is not true as several of the trades outside 127pm were busted stock and options. w
Well I'n not one of the ones who got stopped out yesterday and I sold my shares in the premarket today at $27.15 for a profit of $20/share. I've traded other medical stocks that gapped up on the open after an announcement only to fall hard over the next few weeks. I believe the drop had a volume of about 300,000 looking at the yahoo charts and dropped from $25 to $7.50 in 2 minutes.
Thinking more about this, if that was a short covering their position right before the announcement came out, wouldn't that imply some insider trading?