Art, you are correct but this is an exceptional case where a government agency, which is supposed to be unbiased, first gave anonymous info to select people, and then publicly stated there was no approval of Mucotrol. Later they reversed themselves.
It should not be up to the individual investor to insure he or she has a fax from the FDA to make sure something is true.
The FDA erred big time here by not stepping in and informing the SEC the minute they smelled something here.
And people that buy the stock need to do a little research in the company before they jump on the next momentum train. You win some you lose some. People need to take responsbility for their actions and not blame everyone else. Stock was up 100% at the open and people were buying at the open I would call that a high risk investment you get what you deserve.
on A:) Point taken on B:) The SEC is just not going to make it right... There have been bigger instances of $$$ fraud, Enron, MCI/Worldcom, etc...they do not retroactively fix it through reversal of trades...you have to sue and get your money back... It sucks as I've lost a bundle if the stock doesnt come back at a reasonable level, but is the cold, hard reality of the market...