AlmoSl
10-24-2016,
For those not following the stock or have not seen the news on CNBC. DNDN has a moved from about 2.50 to 25 in a matter of a couple weeks on news of its Provenge drug. Many large funds analysts on the wrong side of the trade as the price increased. Today DNDN was announcing actual numbers of their drug trials.
During the morning the stock moved between 22-25. Then in a period of a 50 seconds the stock dives to a low of 7.50 and back up to about 11.40 before being halted. During those 50 seconds about 3million shares trade.
Some are saying pure manipulation by a powerful short who needed to cover and collected market stop losses at the bottom. Others saying it was a natural waterfall effect due to a once in a lifetime event. Anyway it opened again in AH back at 25 and higher.
All the pundits on CNBC danced around the topic. I'm a novice and can't wrap my head around how anyone could drive down a price 50+% other than to be selling already held shares to every buyer on the way down but if you had the shares to do that why try to drive it down???
During the morning the stock moved between 22-25. Then in a period of a 50 seconds the stock dives to a low of 7.50 and back up to about 11.40 before being halted. During those 50 seconds about 3million shares trade.
Some are saying pure manipulation by a powerful short who needed to cover and collected market stop losses at the bottom. Others saying it was a natural waterfall effect due to a once in a lifetime event. Anyway it opened again in AH back at 25 and higher.
All the pundits on CNBC danced around the topic. I'm a novice and can't wrap my head around how anyone could drive down a price 50+% other than to be selling already held shares to every buyer on the way down but if you had the shares to do that why try to drive it down???