Avid Bioservices Inc (CDMO)

[bidrite]

I would say two raids. We recovered mid day and started into low 2.90's and got taken down again

Rev, that second drop was not specific to PPHM. The entire NASDAQ took a nosedive at exactly 1:30EST, driven mainly by a drop in Biotech Sector.

Biotechnology Under Pressure
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1:55 PM ET 3/6/14 | Briefing.com
The major averages have continued their retreat from the highs with the Nasdaq (-0.2%) and Russell 2000 (-0.2%) dipping into the red.

Biotechnology has driven the decline with the iShares Nasdaq Biotechnology ETF (IBB 261.10, -7.27) widening its loss to 2.7%. This has also pressured the health care sector, which now trades lower by 0.6% after trading in-line with the broader market about an hour ago.

The recent weakness in the health care sector combined with the continued underperformance of technology (-0.1%) has caused the S&P 500 to surrender the bulk of its advance. The benchmark index remains modestly higher thanks to the persistent strength of financials (+0.7%) and industrials (+0.5%).