I sure like the way they post the news after trading hours....don't know what to think about the pull out by J&J. I don't think I've seen something like this yet. I can see pulling out of a merger that has not taken place yet... Does anyone know how long J&J has been with AMYLIN? Any thoughts about tomorrows decline...if it will be severe?
J&J has been providing cash for at least 2 years, maybe longer. J&J also provided loan guarantees for several of their executives to purchase several million dollars worth of AMLN stock. The end of this collaboration is bad news. I own 500 shars at an average price of $12. This is going to hurt. Not sure how bad it will be tomarrow, my guess is $2 - $3 drop. Hope it is not that bad. I don't think there is anyway to beat the exodus, the price will start out bad from the opening bell.
Thanks for your reply...I bought in at $9 purchasing 1000 shares last year and of course, this will hurt. I agree, not much you can do but only hope another big company will come to the aid of AMLN and/or positive results of clinicals. I left a message on J&J board to update me on how J&J is doing financially. Also, I believe that J&J took a hit on that drug called Seldane recently.