Why did IMCL tank large pre 'good' news??

Discussion in 'Trading' started by stock777, Feb 12, 2004.

  1. 1) They got the word , and got it wrong (cell phone static)

    2) The bOyZ were running the usual stop running scam but it got away from them. (fell faster than they planned, or maybe they just wanted to run every single stop on the E*trade books).

    3) Martha panicked

    4) They got the word , and the guy handling the call was dyslexic

    5) Sam panicked

    6) All of the Above
  2. GSCO


    Can someone who was watching the IMCL level two at the time the Halt was lifted (4:20 or so), please tell me the highest price it was trading at. It's really hard to get an accurate chart of aftermarket trading.

    Was it actually possible to sell the stock at, say, $47 or higher??

    thanks in advance
  3. It appears that there may have been a rumor going around about how the drug Erbitux would be "labelled", with certain disclaimers, restrictions, etc., or perhaps they just didn't think that it was gonna get approval, period.

    In any event, Genetech should have Avastin cleared for colon cancer therapy which might actually be used more broadly than Erbitux.

    Stay tuned!
  4. Yeah, 48 was doable.

    And if you're GSCO, you should know that :D
  5. the first rumors were that the drug was rejected. if you look at many other bios and also their partner BMY, they all tanked at the same time. looks like somebody got bad info.
  6. Feel sorry for whos short on it overnight. :p
  7. tuna


    Went as high as $50 for a few seconds
  8. Banjo


    6:33AM Imclone: SEC asks Nasdaq to investigate yesterday's trading -- AP (IMCL) 34.00: --Update-- The SEC has asked the Nasdaq Stock Market to investigate a series of trades of ImClone Systems shares right before trading was halted Thursday afternoon, the stock market confirmed. In the five minutes prior to the halt, the stock tumbled from $42.11 to a low of $33.05. At the same time, volume for those five minutes was 684,420 shares -- more than 25 percent of all shares traded Thursday.
  9. WinSum


    CNBC Joe Kernan poked fun of Martha Stewart and said maybe Martha placed another Stop Loss Order in to Sell IMCL yesterday.

  10. dgmodel

    dgmodel Guest

    buy on rumor sell on news!?!?!?
    #10     Feb 13, 2004