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 biotech company Amarin
So what: In an interview, Joseph Zakrzewski indicated he was in no rush to reach a deal with a potential buyer. Traders must have interpreted that to mean a deal would never happen, and sold as fast as they could, sending volume through the roof and shares tumbling.
Now what: Let's not get ahead of ourselves here. What Zakrzewski actually said was: "If you offer me $15 a share, I am waiting. If you offer $30, $40, $100 it's a different story. There is a lot that can happen and the situation is very fluid." That doesn't exactly sound alarm bells in my head and actually makes me think the CEO wants to maximize value instead of taking the first deal offered. Sounds like a good plan to me.
Interested in more info on Amarin? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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