- When it comes to momentum stocks, Tesla is a pipsqueak compared to Intercept Pharmaceutics (ICPT), whose shares are +523% YTD, by far the top performing component in the Russell 2000; the second biggest gainer is Furiex Pharmaceuticals (FURX) up a piddling 132%.
- Shares went parabolic in early January on positive news related to its liver-disease therapy and then came back to earth, but they have been climbing higher in recent weeks; ICPT retook $400 yesterday and the rally continued today, with the stock jumping another 5%.
- ICPT has 45 employees and no products on the market, but its market cap is now ~$8.2B.
Don't look now, but momentum stock Intercept Pharma is rallying again
Feb 27 2014, 18:59 ET