Imnx is definitely a high volatility stock, so one can expect it to bounce around a lot, especially if the general markets are doing the same. It is a little worrying that this big drop comes on the eve of their full report concerning Enbrel. Maybe some there are some negative points in the report that leaked out.
IMHO, however, the drop is probably more due to nervous sellers and hesitant buyers in the face of an overall market drop. In fact I bought some IMNX near the Friday's low strictly as a short-term trade, as I think the run up to 74+ the proceeding three days was probably more indicative of the potential and demand for the stock than the panicy one day sell off. With so many people involved in the trails, etc., I find it hard to believe that some bad news just surfaced Friday, when they have obviously had the final draft of the report, etc., prepared for some time.
Regards, Bret |
