Comments on elimination of uptick rule- IDM's chance of survival.
In 1/14/08 edition of Barron's in Roundtable, Pt.1, Mario Gabelli comments on the elimination of the uptick rule in July,'07 by SEC. "Its elimination last year was a disgrace. [The rule, which was eliminated in July, required short sales to occur at a price higher than the price of the previous trade, thus preventing short sellers from adding to a security's downward momentum.]" "Without the uptick rule, a computerized trading program can short, short and short, which has exacerbated the normal return of volatility."
I can not say that this is part of IDM's demise, but if, IF, IDM can get it's ducks in a row this time, if there was ever a chance of a company doing a 180, IMHO, it is IDM. If the playing field is level(?), I believe IDM has the products that can help cancer patients. No approval and IDM could be dead, which would be a shame. But then again, maybe this whole approval process is a sham, silently controlled by big pharma, or whoever. We should know re: EU in weeks and the FDA by mid 2008.
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