Now the price is back down to the 2.70's again. My guess is the market makers are going to releive another 1.3 million shorts of their pressures in life and then the price will drift back up to 3.00
again. I think we are going to watch this for awhile. These are the shorts with "pull". Maybe they are also our longs getting away from hedges (my personal favorite theory). I think we watch this wash and rinse practice extend over a 6 month time frame, and by the time it is done we will be 2/3rds of the way through our shorts.
My guess is the speculator-driven stock price run up in anticipation of a broad label CHMP decision has now totally unwound.
I don't think there is speculation that a narrow label will be given driving the price down today. I don't suspect that negative speculation only because the volume was so low today.