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Buy the rumor, sell the news: after a 3 week rally, Optimer Pharmaceutical (OPTR -7.2%) sells...

Friday, May 27, 2011, 4:20 PM ET
Buy the rumor, sell the news: after a 3 week rally, Optimer Pharmaceutical (OPTR -7.2%) sells off hard after winning FDA approval for its antibiotic drug Dificid for treatment of Clostridium Difficel-Associated infections.

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HIGHWATER 888 Comments (273)

Comment? I'm looking for some insight. All I can say with certainty is that someone began heavy selling at 3:26 PM. The FDA approval was all good. Did someone push the stop loss orders? Did a hedge fund misread the FDA approval? After market trading regained most of the lost ground, but still below the key $14 BB.

Either I'm misreading the FDA approval, or OPTR became crazy cheap for about 20 minutes on Friday. IMO, OPTR, post approval is worth $17-18 per share but will be watching the price action closely on Tuesday.

29 May 2011, 12:51 PM Reply Like

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