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Absolutely right. FWIW, there were some transactions of significant value (300,000 and, I believe, 200,000) at the end of Friday. Both, I believe were sells at 28 3/4 (I am not positive, though). My current feeling is that ASND underwent a technical bounce at 22 coupled with a relief rally (that ASND would make their numbers and business was starting to get back on track). Some heavy hitter(s) used this rally to plant rumors that ASND would soon be sold. Stock probably moved five points on the rumor alone (thanks, in unwitting part, to CNBC). They then sold into the rally and hid some large sells. Nice savings from what was probably going to be a larger loss. I'd be very surprised if the volitilty is all done, however. And, I won't venture a guess as to how it will all play out. Now, all this said, joke will be on these sellers if ASND really IS sold. |
