vinh: I don't think there is any incentive to short at this juncture. Despite this bad news, the stock fell by around 12% from its high of 6.50 on Wednesday.
I would expect the stock to move up,since the selling is over for this news.
Onething I don't understand who has picked up 2 MLn shares for the past 2 days? Day traders, flipping around I doubt it, since there is not much upside for day traders, since it did not fell 30-40% for a quick day end pop.
Still I expect a buyout from Takeda for a 15-16 $ per share. Many will happily take the money and walk away.
I trade for living...big trade,nine months per rear, 3 months vacation!!! Since 2000....