What type of fraud is it that just occurred in the DNDN trading?
Answers
788 points
DaveDiggz answered 7 months ago …
Doesn't appear to be fraud, trading seems to have been halted in anticipation of the company's announcement of its clinical trials -- looks like things turned out just fine too:
http://www.businessweek.com/technology/content/apr2009/tc20090428_098384.h tm?campaign_id=yhoo
102 points
fredbear answered 7 months ago …
Hi...Dave Diggz replied below that "looks like things turned out just fine too" in after hours trading where stock is now up 127
Hi: Dave Diggz replied that "looks like things turned out just fine too" because in after hours trading, Dendreon is up 126%. However, in my case, I put a stop/sell in at $22.50 expecting volatility, and I was lucky that I was watching my computer for when I Dendreon started dropping like a stone, I was able to cancel my sell before it was executed, probably at around 11. If I had not been watching at that exact moment, I would be out around $20,000.
I'm sure others were probably in the same position...I was lucky.
Fred Sliva
Laurence Associaes Consulting LLC
laurenceassoc@laurenceassoc.com
106 points
smithdtnal answered 7 months ago …
I still would like to know the answer. It was fraud. Until they show the details thats all it can be.
Read more from smithdtnal
203 points
ArtM answered 7 months ago …
Re FredBear's comments:
" . . . . was lucky that I was watching my computer for when I Dendreon started dropping like a stone, I was able to cancel my sell before it was executed, probably at around 11. If I had not been watching at that exact moment, I would be out around $20,000.
I'm sure others were probably in the same position...I was lucky."
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Implication - many with high stops may have been unintentionally sold out.
And that is exactly what smells to high heaven about this situation. It looks like an attempt has been made to 'Shotgun the Stops'; perhaps by one or more large short positions .....
- Art
108 points
Pegasus1 answered 7 months ago …
Read yesterday that the SEC is actively investigating this one.
Odd & enormous drop...it all took 72 seconds.
