As I have mentioned several times in the past couple of weeks, the stocks in the biopharmaceutical sector are extremely volatile right now. A number of them have jumped sharply on news. Many have also tanked on news.
The latest stock in the sector to make a big move on news is Savient Pharma, which is down more than 35% in the pre-market today on news that the FDA has refused to approve a Gout drug the company has been working on.
These stocks can make, or kill, your portfolio, so make sure you do not chase them up and sell them if you get a good profit.
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