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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 ) climbed 13% in intraday trading Wednesday on fairly typical volume.
So what: KV was one of last week's biggest losers after receiving political scrutiny for jacking up the price of its preventive preterm birth treatment, Makena, so a big double-digit bounce shouldn't come as a huge surprise. With a beta of three and so much controversy surrounding KV's alleged price gouging tactics, the stock is rapidly becoming an active trader's dream situation.
Now what: KV shares aren't for the faint of heart. While Makena's whopping profit potential has fueled the stock to great heights, it's tough not to notice the ever-increasing outrage toward KV from patients, doctors, and now politicians. As the situation plays itself out and sentiment sways back and forth, investors can expect plenty more opportunities -- be it long or short -- to arise.
Interested in more info on KV? Add it to your watchlist.