This could happen, but........there are two types of investors trading comments.............investors and traders. Traders expected a drop from an exaggerated pop over phase 2 results. Investors believe that this is a good long term hold.
He warned you that as an active trader, he was expecting a drop. He is not a long term investor. Once the drug gets through phase 3 and gets FDA approval, this will take off!
My sentiment exactly - we will see. This would be an anomoly if it continues to climb. They typically end up within 10% from where they started the run up.
I've watched a lot of these phase 1 and phase 2 pops - additional articles come out all the time - give this about 3-5 days and lets see what the PPS is. There is almost always an exaggerated pop in phase 1 and phase 2 results - its phase 3 and FDA approvals that maintain momentum.