Investor082,
An approved product in the bag for a pre revenue biotech adds baseline value due to greatly reduced risk. Selling after a risk off event but before value added news of a significant nature expected beyond this, that might occur at anytime, increases the opportunity for “smart money” to get in cheap after the risk carried by others so long is removed.
Personally speaking, I won’t be trying to time the news but might trade some shares in a Roth account if there is a massive spike from the right kind of news that creates a temporary strongly overbought situation and buying back in lower looks like a good opportunity being created. I said before that I might do this when a strong long term uptrend is created first. Best wishes.
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