Crazy Trading
Yesterday, CXR simply announces the closing of the acquisition of four new drugs for 21 million pounds (granted, that is a lot of weight) plus an additional 7 million pounds if certain targets are met, and the stock drops....Today, there is a trading halt to announce that their strategic options review is ongoing, and the stock falls from around $44 to under $33, closing at 36.75.....Perhaps investors were disappointed that no deal was struck after the trading halt and bailed out of the stock en masse, but in my opinion, traders seem to be all over the place with this stock - Personally, I don't think it's wise to invest in a stock based solely on the belief that you think it will be taken out.....It's either a good company at a good price or it isn't........wild times indeed.....