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Closing NUVO (Nuvelo) underperform

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January 04, 2008 – Comments (0)

I caught this stock right at the top of the pump and dump based on the intentional misrepresentation by forces unknown of the ASH poster as new positive data, rather than what it really was (the failed SONOMA-2 trial). The price didn't go all the way back down but the stock is again trading below cash value and seems to have stabilized, so it's time to end the pick. Also, there's always a chance SONOMA-3 will be positive and I don't want to get tied up in that on a short.

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