Illumina was close to $80 a share the summer of 2011 and because of concerns that the Congress would slash funding for research institutions the stock crashed to ~ $24 a share if I remember correctly.
Now, if draconian long-term cuts had occurred I might understand such a fall but this was more nerves than fact. Shortly thereafter Roche made some ridiculous low-ball offer for Illumina, I don't know $48? $50? a share. And, of course, this board was littered with new posters screaming "Take it!"
Aren't you glad they didn't? Yeah, me too?
Thanks, Illumina, for protecting the best interests of your shareholders.
Remember when... Illumina skyrocketed past $75 a share because of the Roche attempted buyout? It was over valued at that level. Remember when, a week or two ago and the stock was at $180, and all of us said that this was the most obvious short of a generation? Well the decline has begun, it is still not to late to go short. we will see $120 within a month.