If ITMN gets approval look for it to jump to around $50 a share tomorrow. Not as big as some people think because a lot of folks will sell the news and lock in the profit.
After today's huge 13% jump it may trade down tomorrow morning to around $44 a share before the FDA announcement as many will get nervous and sell before the announcement. When the announcement comes later in the day my guess is that ITMN gets the approval as expected and it pops back up to around $50 a share. Expect a very volatile day tomorrow. First down $45 or less a share and then up to over $50 a share (when approval first announced) and then back down a bit to $50 a share by end of day. If you are a good day trader you could make a fortune and the down and up and back down volatility tomorrow.
Very unlikely it will stay this low. More likely is the $60 (+/- $2) and good likelihood of $65 to $70. It won't be flat as too much risk on approval vs no approval. Market won't price in the approval unless a slam dunk of approval and that's not the case. Sorry, but based on public information just a naive stmt. DNDN was very likely as really only issue was manufacturing solution and it jumped 35%. Unless some major surprise, it will jump nicely on an approval.
But in all fairness, no reason to speculate as we'll know in less than 24 hrs!!!
But, perhaps news of the approval started leaking out today and hence the big 13% jump already. Look for another 10% jump at most tomorrow when the approval is announced. With the big 13% jump today another 10% jump tomorrow that is a big 25% jump in two days.
The smart money bought early today on the rumors of approval and those late to the party have alredy missed out on today's big gain. Tomorrow's gains on the news of approval will be muted because part of it was already priced in by today's big run.