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InvestAlert©: BLACK ROCK Takes Stake in Spectrum Pharmaceuticals

|Includes: Spectrum Pharmaceuticals, Inc. (SPPI)
Black Rock Takes 5% Stake in SPPI

Black Rock (home of Bob Doll whose opinion I respect and follow closely), has taken a 5.29% stake in Spectrum Pharmaceuticals (NASDAQ:SPPI) as of December 31, 2009. According to an SEC (Rule 13(d)-1(b)) filing, Black Rock acquired a total of 2,579,877 shares of SPPI’s common stock. Source:
Spectrum Pharmaceuticals

This is great news!   This should provide existing shareholders with a Hell of a lot more reassurance about their investment in SPPI.  Relative to the weekend, consider it made!

Disclosure: Long SPPI.