Here we discuss current events unfolding in Dendreon Stock.
March 2009
Dendreon is trading near 52 week lows around $3 per share.
Dendreon announces they will be reporting the final results from the phase 3 clinical trial on Provenge in April.
At this time you have seven anaylst covering Dendreon and none have a buy posted on DNDN..
You would figure with the price near $3 per share that some would consider it worth while being that you are $3 away from zero and if they post good results there maybe massive upside.
April 2009
DNDN shares begin to climb into April to around $7 per share.
April 12 or 13 Brean Murray actually advised selling the stock around $7 per share looking for a target of $1.
Now why would a major wall street firm post a trade with unlimited risk and no discussion about stops or an exit strategy.
Dendreon announces they will give the results on April 14.
Dendreon reports the phase 3 study hit its endpoints and is a complete success. The first Active Immunotherapy for Cancer to prolong survival.
Dendreon shares move to around $25 per share following the conference call Tuesday Morning.
So if we followed Brean Murray's advice lets see what would happened.
$10,000 short at $7 per share. So that would give us 1428 shares short. In the pre market at $25 per share the next day after the advice would be a loss of $18 per share times 1428 shares. Equals a loss of $25,704.
Dendreon to release full data on April 28 at a major medical conference.
Dendreon on April 28 was trading near $22 per share going into the conference and 70 seconds before the trading halt the share price dive to a low around $7 per share. Yes in only 70 seconds, kind of like the move gone in 60 seconds probably some wall steet thief's fav. movie. So to compare all the volume moving from March to April and watching the share price increase from $7 to $25, some firm acomplished that rip off in 70 seconds. Nasdaq and Sec said they would investigate and found nothing. Well is that surprising since Madoff and Stanford ripped off customers for countless of billions of dollars around the globe. And they even had whistle blowers 10 years prior for Madoff. The Nasdaq and Sec just spit on the faces of all investors and said the markets are the Wild West and its every man or woman for themselves. On a plunge of that size you basically watched everyone with a protective stop get forced out of their positions with a lot less capital. So in this example any conservative investor using a stop just got ripped off. Then after the data is released the market re opens near $25 per share and makes a new high for the move.
May 2009
Dendreon Shares continue to trade in between and $20 to $22 per share in the beginning of the month. Dendreon insiders are unloading some of their shares due to the recent rise and good data. Bears would say that is a sign there is something wrong with the data. Or you could be thinking if you busted your a-- for 10 years on something and did a great job you would like to get paid too for all your hard work...
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