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 drug developer Medivation
So what: The stock more than doubled yesterday as prostate cancer drug MDV3100 showed great trial results -- users of the drug tended to live about five months longer than those on placebo control duty. With any move that large, you should expect the stock to bounce again to adjust for overshooting or not quite reaching the full value of the fresh news.
Now what: Medivation is posing a large threat to Dendreon's
Interested in more info about Medivation? Click here to add it to My Watchlist.