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NuPathe AŞ Message Board

  • rickrocks79 rickrocks79 Jun 13, 2011 1:01 PM Flag

    Why down 13% since June 2nd

    Help me out here....when the additional data was released on their migraine patch it sounded
    good to me??...is there any coralation or is it
    the market overall?

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    • I think it's falling because it will be deleted from the Russell 3000 index at end June 2011. The Russell indices are 'reconstituted' once a year at the end of every June. Russell published the proposed 2011 additions and deletions to their funds on 10 June - NuPathe was on the deletions list. In addition, traders can second guess the likely additions and deletions a couple of weeks in advance as Russell publish the technical rules behind their reconstitution technique.

      Deletion from the Russell index is a real technical hit - index trackers have to unload it & many institutional fund mandates require stocks to be on Russell indices. I suspect the price will drift down 'til end June - probably with a nasty fall around the reconstitution date.

      In my view, this would be a perfect buying opportunity for the upcoming NDA catalyst.

    • Very thinly traded and easily manipulated with little volume. It appears to be having stop losses cleared out for progressively lower entry points. I doubt much will change until volume pick up in July or early August. GL