I respectfully disagree. When these stocks get slammed, like Acadia did from a high of 7.45 pre market to 4.55 as of now, they don't stay low all that long. Maybe a week or two, maybe just a few days. When arena got slammed recently back down to low 7s, it sat there for 1 day before going to the 8s, then mid 9s very quickly. How long will people sit on the sidelines for waiting for a buy signal? Eventually it will reverse course and it may do so rather quickly.
My gut tells me Sarepta will shortly announce they received breakthrough designation from the FDA. When that happen, it could be the catalyst, albeit not direct catalyst, which sets this thing in motion. I strongly believed in ACAD P3 results and believe there is no way the FDA keeps this off the market for 2+ years like people think. This drug may get approved before the end of 2013 with accelerated approval, which they have a good shot at receiving.
Both ACAD and SRPT took a beating last week, I strongly sense something brewing... and we know somebody is carrying around an FDA breakthrough designation. I wonder how long they wait to make that public. With that kind of confidential info being potentially valuable to investors, I don't think they sit on it quietly for too long and keep it secret.