I would hope that investors did not use "Wait until Monday!" to make investment decisions. As I have said many times before, I do not give investment advice. My expertise is in the molecular area, not the financial one. However, LGND's recent action, coupled with the news that was out, the news that was coming, and the recent news on the small molecule, pointed toward further movement upward today.
As far as CPQ was concerned, it had already been discounted on CNBC and LGND's price seem somewhat immune from the overall market's move up and down on the previous two days. LGND's chart also looks explosive to the upside, so I had no trouble tell FUGAZI to "Wait until Monday! when he commented that LGND's price was range bound between 14 1/2 and 15 1/2.
As predicted (by some), CPQ's news was a non-event, and LGND's price rose on no news (although I'm sure that many were excited about the G-CSF mimic). I expect LGND's price to continue heading north, as LGND leads the Biotechs (at least many of them) higher. |
