These moves are unexpected and remarkable and are not the sort that inspire short term confidence. It's just not good news, though people might welcome the changes. We might never know the catalysts.
People usually get booted for what they have done (for better or worse). It is as if the worst of all my allegations about the BoD incompetence is now confirmed. I didn't expect this sort of absolute confirmation.
Of course, Ariad may be reconstituting the BoD for other reasons, not necessarily in favor of shareholders. We will have to see. I'm not sold yet on motive.
Still, these are huge changes. CEO, CFO BoD all potentially changed is short order.
I personally still wouldn't short here. The dip won't last too long, and I don't as a rule short stocks with low pps's, (and then, only with puts).
The BoD overpaid themselves and the CEO, they breached their fiduciary responsibilities, they doctored their records and coerced and bought off their accuser...I want THE TRUTH!!!
