Profit taking, new retail owners, and the IBB index causing a perfect storm. Nothing has changed with the company since it touched the 52 wk high yesterday. I didn't sell any of my holdings to capitalize on this swing, but I did pick up some more at 12.20. GL
just from yahoo as of 2/14...insiders 49%, Institutions 30%...5 million short...24% float short...we shouldn't be shocked of the volatility. combine that with IBB volatility acrx is moving violently in both directions
It could also be the shorts coming back with a vengence. I read that the float was approximately 1/3 short a couple of days ago. Likely a lot of them were squeezed like a pimple on the huge run up from the low $11's to $13.64 over the last couple of days and orchestrated a bear raid today. It's par for the course in bioland. I'm sure we'll be back to around the mid-$13's soon enough. Hold strong longs!