You had to know the air was going to come out of this tiny stock! There have been many small bio techs over the past year that have rallied 300 to 2000% in 5 to 10 days then crashed.
These are called "Mo Mo Stocks" because they are strictly momentum plays. It's Musical Chairs, you came late and the music stopped. Next time read up on the stock and check it's financials.
So many young Traders should learn from this.....but they won't and I'll jump on the day trade as they dream to each other.
Aren't you the SMART one! Do you ever read? Today:
A Nevada court has ruled claims 1 and 2 of Spectrum Pharma's (NASDAQ:SPPI) '829 patent, which covers its Fusilev cancer drug, are invalid. Spectrum had sued generic drugmaker Sandoz for allegedly infringing the claims.
The court has also denied Spectrum's request for an order declaring the effective date of the approval of Sandoz's application for a generic version of Fusilev won't be earlier than the expiration of the '829 patent.
Spectrum has plunged to $5.00 AH."
A lot of Traders are upset with their losses, but as you say, "what did they expect?"
This Company hasn't had a profitable quarter in a long while and Traders built their own dreams and stories about this stock.
Have they see this happen ever time for these Bio Tech Mo Mo Stock?
and will take all "genetic" stocks with t.
If you watched GENE, the pricing increases were absurb (I wish I had known and bought early) and prices will have to drop
This Mo Mo Pump job is finally collapsing to reasonable levels.