JP MORGAN analyst and their prop desk look like IDIOTS with the DEMAND for this stock
Idiots and transparent in their intention. We have an earlier thread regarding analysts and their influence. Let's add JP MOrgan lowering a PPS target ($13.50 on FDA approval and accumulated for 9 months above $8. and they giove a 12 month price target of $7 and have the blatant dishonesty not to differentiate this launch against VVUS's launch and the absolute differences in Arena's favor in terms of EVERY SINGLE ASPECT OF THE SPECIFICS. They are a joke and an embarrassment to the institution. LONG ARNA. Big shake out yesterday (DOJI) and real BUYING PRESSURE TODAY.
Read between the lines, we won, they see the value. They now want in to the stock. So they draft a very careful downgrade, in price citing the fear of a bad launch. They left themselves and out if the launch goes well. BMO just came out and did the same thing, left ARNA at Market Perform but dropped their price target from 9.00 to 8.00.
This is normal, if you want the Wall Street stock machine to drive your stock price up they want in to, they want to make money as well. Why promote a stock they are not in and can't benefit from. Let them have this, they will start buying which will support the stock price. Any shorts will be shorting into the hands of much bigger fish and they will keep those shares. The good news is the manipulation and the extreme price swings should subside and when the good news finally does come out they will be on our side upping price targets and selling their clients the stock.