Re: Hedgies selling off bio-techs
Sharkie... being down 20%, even in a week, for reasons that have nothing to do with the underlying value of a company, is common in high-risk biotechs like ADXS. I'm down 50%+ in some of my biotechs and it's no big deal because those price declines have nothing (IMHO) to do with the underlying value of the investment.
If you're going to invest in biotech, you can't either be surprised or disappointed by situations such as this. If you are bothered, then you are investing in the wrong kinds of companies. Big potential payoffs DO NOT come without big attendant risks. ADXS is not likely to pay off as an investment for at least 12-24 months. What happens in between, if not related to its specific technology, is irrelevant.