I saw it and tried small lot at 44s. Sorry longs, I will wait for slow volume day and shoot it down. It was trading 3/sh in July. Phase II trial means nothing. It will see low teen a month. Just be careful. Since it only has 22.6M shares, you have to watch the volume.
I saw it very early in the morning when the price at $30 (which is 100% up). I was thinking to buy it 100 shares, but I was scare b/c I saw it jump 100% on one day which is crazy, that's why I did not buy it. Damn, If I buy it then I could made $1300 in one day.
Now, I tried to short 100 shares at Scottrade, but shares are not avail to short. Damn it.
So if I bought 1000 shares yesterday, I would have made $29,000 profit. You don't see that too often. It does make one think about shorting it. I would wait for tomorrow and see if there is any follow through. 14% short position. Probably almost all of them forced to cover today. What a nightmare for those who were short. Imagine waking up to that news: You just lost $29,000 for each thousand shares short. I am guessing a lot of folks are thinking the same thing. Not often when a stock goes up 200% in one day. Would have to do more research to find out the potential market for this drug. How many people suffer from this disease, etc. Those are phase II trials, so still a long away to go before final approval. Probably at least a year out or more. I can see this slowly pulling back. I am going to check their board and see what the rabble think. It affects boys only, at the rat of one in 3600. Only 2,000 boys in the U.S. have the specific mutation that Sarepta's drug targets. That's a very small target "audience". Price of the drug must be sky high. It does look like a good short to me at first blush with such a small target audience. Anything that skyrockets 200% in one day on preliminary results from a very small test group has to be looked at as a potential short. I will be watching it. Probably tomorrow the best time to short, or today, after hours. Already pulled back $1.30 from it's high. Not much considering the short squeeze, but it looks like a short to me based on small target market.