This stock has run up from 6+ in one year. Looks like a lot of people are taking profit so they do not have to pay higher tax next year. Come JAn 1, the selling pressure will be off and the price rises from the oversold . Alternatively, people may sell now and buy back at the lower price later this year if they think they can get away with the white wash sales rule. If I were to do it, I would write some put or buy some call while I sell the common. Unfortunately I come into the party too late even though I am aware of ARNA a long long time ago.
The stock price quote means LITTLE in the big scheme. Buffett put it succintly ( as always) " DO NOT WORRY ABOUT THE STOCK PRICE, WHEN IT GETS SILLY IN EITHER DIRECTION take advantage of it"
My addition " when you buy it, do not check the quote except ? every year ? every friday ". IMHO.
Sentiment: Strong Buy
piper jaffey note this morning..........said bundling could pressure drug co's to lower their sales price and piper jaffey advised to buy affy on any dips........ cant recall where i read article which was from this morning.