Biotech stocks have a history of volatile moves, but the swings in this issue could make the calmest trader seasick. Between April 2009 and April 2010, biotech stock Dendreon (NASDAQ: DNDN) surged nearly 2,000%, from a low near $2.60, to a peak near $54.
By July 2011, as management cut sales estimates of its flagship product,
the stock had given up 80% of its value and fell to a low near $10.40.
There was a countertrend rally to the mid-teens, but after falling to
the mid-$3 range, shares can now be picked up in the low $6 range.
Here's what makes me excited now about the stock technically... (more)
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