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 maker Jazz Pharmaceuticals (Nasdaq: JAZZ) suddenly plummeted 30% this morning only to quickly recover the majority of that loss.

So what: Today's action is obviously reminiscent of last year's May 6 "flash crash," in which the Dow Jones dropped and popped about 9% within just a few short minutes. Of course, when that kind of stop-limit-triggering sell-off takes place in an already highly volatile, highly shorted biotech stock like Jazz, the effects are that much more pronounced.

Now what: I wouldn't look too much into today's roller-coaster ride. Instead, investors would do well to focus their attention on Jazz's first-quarter results scheduled for next week. Because if Mr. Market is as impressed with it as it was with the last couple of earnings reports -- Jazz shares up a whopping 200% over the past six months -- today's flash crash should be a distant memory.

Interested in more info on Jazz? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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