This stock usually gives most of all of it back on a big run (which is why I didn't get suckered into buying yesterday on the hype) it appears today we got a development on Ttr rx & possibly mr market didn't like it. I'm not sure though why such a brutal sell off on the news as it doesn't look bad.
Bought 42.55 sold 43.25. Agreed with the oversold move, but I simply don't trust this overall market. For the first time ever since 09, the market is likely to poking more & more like its forming a big top here & we could be set for a big crash. I'm playing this cautiously even though I feel strongly that ions can easily be $150 stock with even a couple of their biggest drugs. Glta!
If I were a company with all the potential ions has & it's clean balance sheet, I'd take them out. However, I think it might be difficult for ions to receive a takeover offer due to all the partnerships that they have. I'd rather ions not be taken out personally because I feel that there's far more fundamental upside at this point then any takeover offer price. Looks like we've bottomed here, but we might run into fierce resistance with the overall market. My fear was & has always been that this market has been very manipulated by the federal reserve & could crash any day &/or any year.
I sold my trading shares as soon as I could. It's had a big run in a week & a half so it doesn't surprise me people want to take profits. Ohhhh well, eventually the bs will end & this stock will be over $100 per share!