This post was published on ZYX Buy Change Alert.
ARNA is long from $16.20. It is trading at $25 as of this writing. The company announced positive Phase 2 results for Ralinepag for the treatment of pulmonary arterial hypertension.
The gains are not as some are mistakenly thinking. The stock was originally bought at $1.62. Since then there has been a 10 for 1 reverse split. So your cost basis is $16.20 not $1.62.
What To Do Now
Those in the position may consider taking profits on one-third of the position right here around $25. Move stops on another one-third in the zone of $19.43 to $19.68. and on the rest to break even. We expect the stock to be volatile. The reason to continue to hold partial quantity with wider stops is that it is a potential buyout candidate at a significantly higher price.
Those not in the stock may wait for a signal on the Real Time Feed.
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