Speculators Snap Up Shares of ABRX After Colossal Blow-Up
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INSIDERS' BLOG: Speculators continue to snap up shares of embattled generic drug maker Able Laboratories Inc (NASDAQ: ABRX) after the recent colossal blow-up related to news the company recalled all its products. On May 18th the stock closed at $24.63, the day before the news was disclosed; it went as low at $3.27 intra-day on the 25th and is currently at $5.24.
The view of the speculators is that the stock should be worth at least double-digits if it can get some drugs back on-line. Others say while $5.24 may be cheap, $0 is cheaper and they are avoiding or shorting the stock.
The view of the speculators is that the stock should be worth at least double-digits if it can get some drugs back on-line. Others say while $5.24 may be cheap, $0 is cheaper and they are avoiding or shorting the stock.
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