ELN this is funny...how about day traders special
Reuters
Drugmaker Elan unable to explain stock's rally
Wednesday August 11, 12:04 pm ET
NEW YORK, Aug 11 (Reuters) - Irish drugmaker Elan Corp. PLC (Irish:ELN.I - News; NYSE:ELN - News) on Wednesday said it knew of no reason why its shares jumped as much as 8 percent in heavy trading during the day.
The stock was up $1.20, or 6.5 percent, at $19.70, with more than 4.3 million shares changing hands by midday on the Nasdaq. Shares had climbed as high as $20.02 earlier in the session.
"There is no information" to explain the rally, Elan spokeswoman Anita Kawatra said.
The company's stock has traded in the past 52 weeks in a range between $4.21 and $25.90.
When investing always start with an assumption that the stock market is dead wrong.
