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.
Fool contributor Anders Bylund owns shares of Intuitive Surgical but holds no other position in any of the companies mentioned. The Motley Fool owns shares of Exelixis and Dendreon. Motley Fool newsletter services have recommended buying shares of Intuitive Surgical and Exelixis. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.