DNDN...Dendreon. If you haven't heard or read something about this stock recently, yo are reading the wrong pages, I guess.
This shotup to mid 20's from 5 or 6 dollars after it was approved by the FDA advisory panel somewhat unanimously. this was about a year ago and again it shows my lack of knowledge, or OK greed at the time, not to get out with a nice little profit.
any other newbies, don't make this mistake. I read the story in the wee hours of the night like now and put in a market order (I know some of you are screaming already) as I left for a doctors appointment. On my way home at 10:15, I got an alert that my 200 shares went thru at....$18.00 a share. I was like...what? Lesson learned and not forgotten. So Stock did go to 25, could have made a profit, but was so angry about market order I got greedy. Well FDA did not take the advice of its panel and sent them the dreaded letter. This stock got shorted so much so quick that I recall reading that people could not find shares anywhere for sale to short. so since then, I have remained at the 5 or 6 dollar level, waiting. OK, it stinks for me, but without getting on a soap box, what about the poor guys with prostate cancer who have an automatic death sentence anyway. why should they suffer and be cheated.
Well it turns out they just finished a Congressional inquiry with no action taken in which I doubled my position, hoping for a pop. The pop never came yet. I am not selling this until the cows come home with a letter saying give it up!. This is a good company, a good drug, a bad stock right now.Reports of favoritism on the FDA panel with 2 people having interests in other drug companies working on a similar drug were not enough for a Congressional inquiry. so now its back to the FDA waiting game as Dendreon as fulfilled its FDA request for reconsideration and it all looks extremely good. I cannot see any problem getting in small at this price and watching it. Purely speculative, but as speculative goes, I like this stocks chances
time will tell....until than
Staples
$5.9 (02/19/08)
