AMPE was way up on news today. This stock was covered earlier this year by Hedge fund biotech trader Martin Shkreli. His Seeking Alpha short idea was working well till today.
The news was positive but lacked detail. GekkoWire, a prominent biotech trader summed it up:
And Shkreli certainly has not changed his mind:
I think its a great 'sell the news' setup. AMPE is a sketchy co up on sketchy news. I am hoping for a pop tomorrow morning (low 4's) to add to my short (3.8's). $4.50 is my stop (close), aim to cover low 3's.
Open Trades Short
PATH, AMPE, HUSA (April $7.5 puts), NGSX, SVVC, GMLP
Open Trades Long
PLX (May $5 calls), VXX
PATH, AMPE, HUSA (April $7.5 puts), NGSX, SVVC, GMLP
Open Trades Long
PLX (May $5 calls), VXX
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