If you wanted to capitulate today is the day you did it. If you wanted to buy at near the offering price, you did that, too. 9 will probably face some heavy selling as people who bought low today cash out. Could last a few weeks until those folks are also washed out and NBIX can go to its next level.
To his credit, it did crest above 9 mid day before slowing down with near zero volume after lunch. Traders have their stops set to max their gains, so certainly lots got stopped out post-earnings. So he's kinda right there too as a 'quality long' or whomever is begin referred to would (perhaps not the wisest idea but..) not have a stop loss set since they were holding regardless. Makes sense to me. But so does calling it non-sensical. Have a good week!