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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of drugmaker KV Pharmaceutical (NYSE: KV-A ) fell as much as 14% in a wild ride that currently has the stock trading flat from yesterday's close.
So what: If you could have timed this move just right, there was a lot of money to be made in just a few hours as KV took a nosedive and then recovered all of those losses. Volume is nearly double normal with more than two hours left in the trading day, but there wasn't a big sale or purchase that prompted today's move.
Now what: Investors are likely trying to decipher what to do with this stock after it popped earlier this week on revenue projections for Makena. Since then, doctors have been outraged by the plan to charge $1,500 for the drug, so there could be pressure to reduce prices along with subsidizing low-income customers. After the meteoric rise KV has been on since Makena was approved, I am going to give it a little time to breathe before jumping in. I don't want to be on the wrong side of a correction if the company falls short of increasing expectations.
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