Normally, I would agree with many who believe that ACAD will decline significantly tomorrow. However, as soon as the stock opened this morning around $6.00 it fell throughout most of the
day, until the last half hour when it ran from $5.06 to close at $5.43. It was the perfect handoff
for investors--those looking to look in over 100% gains and new money willing to pick up
shares based on today's news. The majority of buyers today actually experienced a loss
on paper, save for the group that came into purchase during the last half hour. So, in many
ways today was a losing day for most of the buyers.
The volume was also very impressive.. 60M shares traded. The amount of press coverage
is tremendous and will catch the attention of many. They will see today's decline and see
the bounce off the low at $5.06.
Tomorrow we should see more ups and downs versus a strong downward trend from today.
This could move over $6.00 early by luring in traders looking to make quick buck. So, I
believe less volume, more volatility tomorrow. If you are an investor and are willing to wait
things out, tomorrow's share price is not a big deal. If a trader, you will find entry and
exit points throughout the day. Should be an interesting day.