Searching all the news search engines and company website, there's nothing anywhere to explain this massive downward move. But, somebody obviously knows something, somewhere. Whether it's the secretaries at the FDA phoning their hubby about pending bad news...or cronies of some financiers trading on pending unannounced dilution, it's illegal. If there is any kind of bad news in the next 3 trading days, somebody oughtta be cellmates with Madoff.
My initial response was censored by yahoo so I'll try to calm it down some. I beleive the selling is coming from the $100M shelf they filed in September. They disclosed that they would be selling from time to time so no other pre announcement is necessary...I don't like it either. I think they are selling in lots of about 100,000 to 200,000 per day...a couple of days had 400K and 500K volume. I suspect they have sold 1M to 1.6M shares the last 3 months! JMHO of course! I'm not a happy camper either. I rarely comment on this board. I have only 3930 shares..I'm a heavy trader in other areas and stocks! GOOD LUCK!
It is incredibly frustrating but what can us little guys do? You just have to play the game. I always try to have a little cash on the sidelines so when the big boys average down and buy cheap shares, I can too.