Arena (ARNA) Shares Dive 10% in Mid-Day Trade; Short Sale Rule 201 Now In Effect

April 12, 2012 1:49 PM EDT
Shares of Arena Pharma (Nasdaq: ARNA) just plunged sharply below the $2.75 level in intraday trade. The stock fell more than 10 percent in just a few minutes of trade, however has bounced modestly. Shares are now down 7.3 percent for the session.

The recent move lower put the SEC's short sale Rule 201 in effect.

Volume looks to be extremely light compared to the 30-day moving average at about 11 million shares per day. About 3.3 million shares of Arena have traded so far Thursday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Momentum Movers, Trader Talk

Add Your Comment