Arena Pharmaceuticals (ARNA) Slammed on Massive 'Bear Raid'
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The biggest momo stock in the market Arena Pharmaceuticals (Nasdaq: ARNA) was just the target of a massive "bear raid."
Shares plunged as low as $7.80, or down 33%, before recovering.
There is no new news, but with the 6/27 PDUFA date fast approaching investors are getting nervous with the current news vacuum.
This has been seen before in stocks like Dendreon Corp. (Nasdaq: DNDN) days before FDA approval was ultimately granted.
Shares plunged as low as $7.80, or down 33%, before recovering.
There is no new news, but with the 6/27 PDUFA date fast approaching investors are getting nervous with the current news vacuum.
This has been seen before in stocks like Dendreon Corp. (Nasdaq: DNDN) days before FDA approval was ultimately granted.
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