In some respects, many (even longs) have also written off DNDN after their approvable letter. The problem is that they became super bulls and went crazy buying shares in the $15+ price range which wasn't prudent. However, those who were deft could buy DNDN shares in the low $5's the morning after the FDA news. Price entry is one of the key decision points that an investor needs to make, not necessarily whether they will buy or not buy a particular company.