Very nice bounce today but the volume makes this too dangerous of a stock to trade. This has moved up $8 and could easily drop $8 in the next hour. The bid/ask spread is way too great to make a trade. Right now the spread is $1.50!
Which suggests that the stock is in strong hands and that not many are willing to sell, even at this price. Which also suggests that the stock is not about to drop $8. There was a flurry of selling at the close yesterday. Whether it was shortselling or profit-taking, I don't know. I suspect the former. In which case, they were definitely mistaken. As I said yesterday, the beauty of this stock is that they had a clear path to approval - all they had to do was to demonstrate superior efficacy to Herceptin. They have now done this. And having a drug which will potentially displace one with $7.5 billion in annual sales, the market cap is modest.