|I bought Arena Pharmaceutical stock at $1.65 a couple of years ago (ARNA) after their weight loss drug Belviq/Lorcaserin was thrown out by the FDA on the off chance that it would be approved in the future.
Posted: 8/4/2012 6:41:50 PM
Long story short, 2 years later it was, the stock zoomed up to $13 and the sky was the limit but now its trading in the $7's, I have made a nice profit but I thought the stock could go to $20+, people in the US are crying out for a weight loss drug after all.
I dont know why the stock is tanking, I'm tempted to sell and at least recoup my profit but I think there's some long term potential here.
what should I do?