Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

Questcor's (QCOR -7.3%) early drubbing was apparently due to a mistaken headline stating that a...

  • Friday, November 2, 2012, 12:39 PM ET
    Questcor's (QCOR -7.3%) early drubbing was apparently due to a mistaken headline stating that a synthetic version of Acthar had been approved by the FDA, rather than the Orphan Drug Designation it had actually been given, according to a Seeking Alpha contributor. The errant headline has since been pulled and refiled to reflect the correction, but the hangover in the shares continues in mid-day trading nontheless.
Track new comments on this story

This news story has 6 comments:

  •  
    The people who gave the rumors should be put into the jail
    2 Nov 2012, 12:43 PM Reply Like
  •  
    And the editor didn't pick up the mistake? The editor is very thorough checking my articles, but he didn't catch this person's mistake. Why?
    2 Nov 2012, 01:34 PM Reply Like
  •  
    Mistake my azzz...this thing has been under seige by shorts for years now who somehow seem to win every time...so many "mistake headlines", fake companies producing generic achtar, minor insurance policy bulletins...the shorts OWN this and can lead the PPS around by the nose at will. Like DNDN before it, there is a deep capture situatio with QCOR as well.
    2 Nov 2012, 02:08 PM Reply Like
  •  
    I agree with oshinator56 on this one. I would venture further to say that all the articles written in support of Questcor seem to further that image of vulnerability by struggling so hard to defend it. Questcor has become the new Spectrum.

    As for the hangin' posse for the originator of the rumor - where did it start? When the stock was down 10% at 10:30 EST, I could only find one place that referenced it and that was Yahoo Financials. I kept my positions and went to bed noting that it was "not the end of the world" as Infantile Spasms comprise such a small portion of Acthar sales.

    Lastly, I'm looking for a rebound tomorrow. However, if I don't see one I will have to assess whether or not I believe this stock can move confidently forward. The support sticks holding up this rock are crackin' and giving way a little to often for me.
    2 Nov 2012, 03:31 PM Reply Like
  •  
    I doubt that there was any "mistaken headline". This was just one more in a line of false reporting and should be investigated to the fullest!
    2 Nov 2012, 04:06 PM Reply Like
  •  
    It was started by a research analyst firm that spammed their subscribers with... "Questcor said it couldn't be done..."

    I don't remember Questcor ever saying that someone couldn't spend 10 minutes filling out some paper work and filing it.

    Obviously that research firm doesn't do research and doesn't understand the difference between being successfully approved vs filing paperwork.
    3 Nov 2012, 08:13 AM Reply Like
LATEST|
TODAY SO FAR|
YESTERDAY
Other date
DJIA (DIA) S&P 500 (SPY)

HEALTHCARE ETFs IN FOCUS

Latest Healthcare Articles
More Latest Articles »