Amarin Corp Plc (AMRN)

[KCSVEN]

There must be a ton of short covering, the news today is not exactly shocking, Jefferies I believe recently said they had 97 million in revenue for Q2 estimate based on scripts reported to date.

Adding sales people maybe makes WS believe Amarin is thinking approval is going to happen but approval has always been almost a guarantee.

Cash flow positive is a surprise, might take risk of capital raise down a bit so that was positive surprise news.

But adding it all together it seems like a 15% run is a little unwarranted from the news, with light trading the next few days be very interesting where it goes and into next week, I expect new shorts will come in, they always seem to after a run like this and as others have covered I think the balance of shorts covering vs. new short positions should even out.

The good thing is I think we finally broke out of the $17-19 area we have been stuck in, now just a question of what range bound area is up next (until more news) is it 20-22 or 22-24 or where. All good stuff today!