A POS is always a POS, no matter what some people are willing to pay for it.
With the benefit of hindsight, I think that hedge funds are losing so much money that they are desperately chasing momentum wherever they can find it. That just happened to be Synta, and took what should have been an ASCO run to close to $5 to insanely high heigts.
I suspect the smart ones traded out for a nice profit. The dumb ones...well, they'll get what they deserve tomorrow.