pps trading at EV of 7.49 which is probably the most that MM's & HF's are willing to pay for each share of ARNA, it's probably what they would consider a fair value without any exact sales figures and EPS.
Agree with SPCHART - MNKD got took down hard and came back. At this level, they can't take it down hard - use too much ammo.
Don't want the reversal / bottom to be recognized... they have a lot riding on low PPS exit.
Added some OCT calls very cheap... in the money so it's a leverage thing.
They want it as low they can take it without breaking it. If this is the result of professional buyers wanting shares, working in tandem with the MM's to get the job done, then the best approach would be to slam it down to important support and keep it there as long as they can. But, those who are buying here do NOT want to be buying into a broken stock. That's me guess.
But, heck... I though 8.40 would hold.