ARNA was $11.68 One Week Before Approval June 21, 2012 - now half price
On June 21, 2012 , approximately one week before Belviq was approved by the FDA (approval was June 27), Arena stock closed at $11.68 - We are just about at half price now after a very good start to the launch and wonderful stories coming from the drug users! I just bought another 28,000 shares here. I am not on margin and will buy more if we go lower. This is insanely priced (people selling today should be in a mental hospital)
As stated in another post, a (well-timed) bash article had come out on SA the next day, June 22, 2012, to make share price fall under $8. All that did was give people an opportunity to buy more before approval. After all, ARNA had already received an 18-4 vote on their pre-approval date about a month before (when share price went from $3's to $6's). All of this today looks like one of the same manipulations due to one single article. Allowed me to buy more at $6.35.
My point is that we are at a screaming cheap level. You really do not belong in the market if you are selling here on news about a transient AF event that at most occurred because someone was given too big a dose of a different drug that targets heart receptors, and at the least the event didn't even occur.