Another internet person who only uses a few words out of context I also stated no need to panic as we will see which way this stock moves soon. I would suggest you become a man and posts your own thoughts; do you have any?
This stock is not going to linger here much longer. Bad news on any of the drugs and we know it will tank. I would like to highlight the following:
1) The December hiring of Josh Disbrow as COO in December
2) No inside selling and director Richard Giles exercised 50,417 shares at a price of $2.20 - $2.76; that event along indicated nothing would happen before February 17.
3) The February 11 Luoxis Diagnostics announcement included the statement "securing commercialization partners world-wide for the Zertane sexual dysfunciton drug portfolio." Again execution is the question but this is not a quick process and is why Josh Disbrow was hired.
In conclusion be smart about your position size but I see no reason to either panic or celebrate at this time.
It did but if if holds $4.40 going into the last hour you might see a little more short covering.
Sentiment: Strong Buy
Pre-market someone had an order to purchase 25,000 shares @ $3.40 which was cancelled. Personally holding a small position as a lotto ticket; I do like the potential for a spike during Q1 2013.
Cover other losses? Don't get that logic; am short OPEN and slowly accumulating other shorts Thursday and Friday.
A growth stock? What is your logic behind this assumption. Look for Q3 revenue to be the same as Q2 and Q1 if not lower as they are having major issues hiring sales staff.
If you have 10 restaurants closed in one town and 10 in the next town doing even 50% more business than normal you still have a sizable overall decrease.
The big fund managers have definitely been selling the past week. They still have almost two more months to unload this stock before they have to post their quarterly holdings. Technically there is some support at $85 but more than likely it is on the way to the 200MA and $75 for the short term.
One more MAJOR thing is when a company promotes a CFO they usually are transitioning to a cost cutting mode. Longs congrulations on a great run but the worse thing one can do is be emotional about a stock.
$70 is strong resistence; November volume has been light. Should pull back to $55 IMHO and $47.50 is not out of the question.