I wouldn't worry about it. I have a feeling there is a buy out coming soon. Arna has a great product but horrible marketing and management. Some other drug company will see this this and soon buy them out, probably around 15. What's a block buster drug worth when its marketed properly?
I'm gonna wait for another up day, hopefully tomorrow, and the shorts will get their margin call notices...then nugt explodes upwards.
I bought this at a buck fifty and have been selling calls or puts against it for over a year. I have a negative cost basis on ARNA of a little less than ten bucks so I'm not ever selling my 20k shares. I will keep them indefinitely.
Probably cover in the teens. When the selling starts the longs will be happy that the shorts are on this because short covering will be the only thing supporting the stock.
Won't be covering until much lower. Anyone who bought in the 40s or 50s will lose money cause it'll never See 40 again. Before it gets close longs will dump. 99% of longs are pacing the floor in prayer right now asking please, please, please, just let me out at break even, please. So you have all that selling yet to deal with.