Someone who knew the positive news (hedge fund probably) shorted or sold substantial (100K would do) at market while having buy orders in place much lower to scoop up all the stop losses.
This in and of of itself is llegal. Its called trading on insider information. How did this hedgefund get the information...most likely bribing an FDA official. I guess in your world this is not illegal.
#2 You state:
THis is not illegal and simply some smart fund manager took advantage of all cumulative stop losses the retailers had on this stock.
WRONG this is illegal as stated above its trading on inside information and using that info to illegally manipulate the share price of an equity.
#3 You state:
Bottom line, smart money stole the cheap shares like a candy from a kid. Did anyone hear of 'shaking a tree' ??
This is correct...the key word here is STOLE. Your post is exactly the reason the markets are so crooked. Wall street thinks it is legal to use criminal activity to steal from Main Street. Until some politicians get some balls this will continue the way it has since the great depression.
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