IDIX – I don't think anyone can accurately call the bottom. My feeling is that some hedgies are trying to kill the price now betting IDIX would do a PIPE or secondary by the end of the year.
I agree with your first sentence but not with your second. Based on the CC guidance about cash usage in 2009, I don’t think shorting based on the expectation of a financing deal explains the recent share-price dynamics. However, NVS’ majority stake causes IDIX to have a low float, which makes the stock more volatile than the stocks of most biotech companies with a similar market cap.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.