PS you own it. Plus I doubt you own 77K shares and if you did you would have invested over 100K. If you are like most people that would be a speculative position and as such would represent about 5% max of your portfolio which means you have 1.9MM invested in other securities.
So much for the halt + the "BIG" news. Volume was above avg along with the 7.4% jump in price. A good move for the day but as I stated in an earlier post:
Don't think anything is happening other than shorts covering, + tutes entering, no buyout or news pending, JMHO.
I fully expect the company to be substantially higher 1 year from now. I also believe that BP will wait to see the initial sales numbers before they move. Some posts say 50+ be real, that would mean a 10BB buyout, do you really think the company is worth 10BB?!?!?!? Realistically, 5BB is more likely + that's around 25/share. They do have other drugs in the pipe but they are still in early stages, something VVUS doesn't have, other drugs in the pipe + forget about their ED drug. Cialis + Viagra own the sector + VVUS doesn't have the cash to market their weight loss drug AND their ED, plus BP won't allow entry to market by a micro cap.
ARNA is in the drivers seat for Belviq and it does have multiple indications that will drive sales higher than expectations. Smoking + drinking suppression are very possible + could be huge but those are a tad farther in the future.
IMO we will see a buyout by Esai or another BP but not until early 2013 at the earliest. I'm more than willing to wait.
I hope what you are saying is true but personally, what's moving the stock is purely technical + it's a great story stock. In other words, if you look at the chart, it was poised to move up and beginning to look very interesting. Momo traders take note of this and are climbing aboard. The hedges are likely getting back in as well for what appears to be a nice set up for a breakout at 12 to 13 area. The "great story" about this stock is pretty much self explanatory. This has all the signs of another momo starting. Tutes will need to be acting fast to get in.
There will be no news in my opinion. I was sarcatically calling out the MMs who "foment" to move the stock. Haven't you noticed that the only time this stock moves up is when the "big news" or "buyout" rumors start?
If this is being fomented by the average joe, or maybe a hedge fund who has crossed the line, this is killing the MMs who were trying to keep it down. This has to hurt them big time.