If you understand why and how it got to $70 then you'll know why people are left holding the bag below $50 now. People were pumping DNDN to $50+ back then and why do you think they won't touch it now at $2?
Every day traders know full well this stock is way overvalued and only greed and fear forces some to trade on fluctuation now.
It may. I was just doing it so I can put my 30K in good use elsewhere and helping longs out here also.
I just dumped all my shares at $3.06 and that's all you need to know.
Usually after I dump the stock will break up another 20-30% lol.
Haha I picked some up at around $45 and got lucky to be able to get out at around $46 So this price should be a lot more attractive to me but somehow I'm scared to pull the trigger again now....
Damn was trying to trade this every time this dips below $35 and above $35 and missed the run to $39+. Anyways I think only day traders pushing this higher due to big price drop, hard to justify the valuation of this at this price level.
Wow glad I dumped this at around 46 yesterday. Looks like people will only chase this to about $35, so highly doubt this can close green today.
Greed is clouding people's judgement. Just like all these China stocks broke out and are bound to go back to low's. This could very well be $2 with about 150M cap with no revenue yet is pumped up to 1B company?
Lol hey they might not have revenue but sure they can go to 2016 with 2 people running the show. Or do they need to pump this to dilute and get paid?
We'll see if he's right. A lot people have been saying it since the whole market bottomed few light years ago. Just greed and fear propping this thing up now.
I'm only trading this for short term and anything below $15 was definitely good time to get in. As for long term, you may be right epecially if the whole market takes a dive. At some point in time they will need funding again as this may be at least 4-5 years away from market and even then you do not break even for a while but that's all down the road for traders.
yeap and they said the same about just about the whole market too. Didn't they say about buying the top on pcln at $500 and it's now $1150?
I do take the opportunity to sell rather than buy when a stock is a bit overheated, but SRPT range is $12-$18 for now...
The truth is that this stock should have never been $55 to begin with, probably not even $35+. All along this was a story and the question is how much people are willing to pay for this story. I'm thinking somewhere between $12 and $18. Let's see which it goes to next. You probably shouldn't have shorted at around $12 as any short squeeze can take this 50%+.
Doubt this will bounce much if at all. They did the same to snta, sending confusing signals to the data and took it from $7+ down to $3 and then went back to almost $8 for no reason. That one is back down below 4 today, so who knows what's with these biotech stocks?
Don't rely on Yahoo for your numbers. I thought the latest update was ~280 million in cash? When it come to stocks it's all about timing. Even though not much has changed if you think about it as chance for FDA approval was not high, the sentiment of longs has changed and their willingness to buy a story has certainly declined in this environment given that all the latest speculative biotechs such as snta, achn have been bombing out. Heck even ones that have product launched are exploding. AMRN, ARIA, ARNA, etc. you name it...
In a way this stock valued at $55+ and 2B cap never made any sense. Regardless of what the FDA was going to say this was always years away from any fruition so people were just buying the story. The biggest difference is the shift in attitude now as fear seems to take over. As you pointed out this company was years away 2 days ago or today and the difference in valuation shouldn't have been that drastic. The question is now how much this should be valued to investors all along.