Quite a few of us have seen worse than 10-15% reduction over 2 days. For sure there have been uglier days.
I wrote to someone, just yesterday, that regardless of what decision gets handed down that they should expect (over)selling.
I was looking at the chart just this morning and it is already down to a 30-ish RSI (oversold) and the fleabags are just getting started. Like I wrote yesterday, it's the sick market mentality of present day; "if you cannot oversell it, then it isn't worth the effort". Hopefully one day they will fix that efffing uptick rule and start to correct what is wrong with our equities markets.
On Dynavax and Heplisav, the end point is, "you either believe or ya' doesn't" and let your gut be your guide from there on. :-)
C'mon FDA! The pot is over-boiling here on this thing. Render your damned decision already.......
Well, more people trade now than invest. That means momentum. The momentum on this is down, so the flow is going to go that way. It has nothing to do with fundamentals, and nothing to with PDUFA. Simply momentum.
Upon approval, expect momentum in the other direction. It will pop like a mother. The problem may be headwinds from EU news and fed meetings that could tamp down a super giant (4+ point) pop.
The action is supposed to make you nervous. The float on this is so small that manipulation is easy especially with the amount of shares trading, but for the same reasons when this things pops, it will fly; i.e., few available shares. What will shorts have to spend to cover? It comes down to whether or not you believe this will be approved and that is something you have to answer for yourself. Ignore the swings this week. They mean nothing.