NICE GAINS ON ARENA AS IT JUMPS 25% ON POSITIVE DRUG RESULTS, GAINS NOT AS BIG AS SOME ARE MISTAKENLY THINKING $ARNA
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