Just sold my shares only 3,000 but I am out.
There is no way somebody dumps 100,000+ shares this morning if the news coming was good. Also was unaware of the Teva Upper selling out on his position, Everybody feels approval is a lock and its strange the 10K was filed yesterday. I have a feeling this thing is going to get delayed or Denied.
Dont feel the upside on approval is that worth holding for the announcement tomorrow. However if its delayed or Denied forget it. This stock is sub 5.00.
I will buy back in after I know.
Just dont feel a 2 point pop is worth a 5.00+ fall on a bad report. Can always buy after if its approved and still make money. However save a bundle if something goes wrong.
I have to think the Upper at TEVA has better info then me or you. I also think the guy who sold a million dollars worth of stock this morning has better info then me and you also.
Us retail boys are the last to know in this game dont you know that.
Risk is 100% not worth the reward here. If you love the company so much buy after.
It makes perfect sense if you had a big profit and then had another chance to buy back in and lock in some upside, or just take your profits and move on with no risk. That is exactly what happened as evidenced by the trading patterns.
Did it ever occur to anyone that perhaps the seller feels they made enough already, and are essentially taking any risk (limited as it is) off the table. Selling 'big blocks' isn't always about someone bailing for bad news. Sometimes it's just profit-taking...
I am increasingly being alarmed with the management of the FDA. There attitude of "Just Say No" when it comes to drug approval is masking a much larger issue behind the agency. It stifles innovation and I am getting sick of it.
I have no position in PLX but I have an increasingly negative position on the FDA.