WX got ahead of itself a bit. Need to consolidate before moving up. If it can hold $20 during this "storm", it may have a nitch future. But drug outsourcing is no a big deal anymore and the price advantage of developing things in China is evaporating faster than you think.
Unless WX focuses on developing its own drug, it does not have much of a future.
Sorry to rain on your parade. We will see who is right.
I never said China is a beggar nation wrt pharma. In fact, It has done a great job feed and cloth its people of 1.2 billion. In the past the community health based healthcare works just fine, with generic drugs and good common sense medicine. Now, everyone is seeking the magic drug to cure all, which is nonexistence. WX has the hype factor built-in, and it needs to be taken out before moving up.
Like most of the IPOs, the odd is against it moving up much, especially under this stormy market. I would bet it will go down to at least 20 before stablize (if ever).