It's going to take several, many quarters, for Ariad to reach anywhere near a billion dollars in sales.
That's a boring story to a hedge fund manager (who could already be up 100% on the stock)(btw, the easiest/best returns are already behind you here - I don't forsee anyone getting 300-500-1000% in this for a long time - if ever). Hence, the reason I would rather own the "story" of the promising drug with spectacular results, THAN the dripping of quarterly results over several quarters. It's boring to fast(er) money.
'113 is the thing that will bring the next leg up. And, barring no news in that, I have a feeling people might just think they have had enough of a profit here for the time being, and finally taking profits, hence the selling.
BTW, these are just my thoughts....since no one seems to have a better idea other than "its the damn naked shorts" type of stuff.
IMO
