Dont know what to do

Forum: Investments
Author: [Investments] Topic: Dont know what to do
mr_bollox PM mr_bollox
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mr_bollox
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Posted: 8/4/2012 6:41:50 PM
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.

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?
wallstreetcappers PM wallstreetcappers
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Posted: 8/4/2012 9:42:42 PM
You could put a trailing stop in (which would have protected profits from that high) and live with it, or take your basis off the table and let the profits ride.

So 1000 shares at 1.65= 1650..calculate how many shares you need to take the basis off the table and sell that..

Or just wait it out and hope for the best.
mr_bollox PM mr_bollox
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Posted: 8/13/2012 9:10:00 PM
thanks  for the input wallstreet, gonna sell, made a nice profit, i think there is an upside but it'll take years for this drug to reach the market, get sufficient market share etc, 
omalleys PM omalleys
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Posted: 8/16/2012 3:04:25 PM
Should have sold as soon as it hit double digits.
Dutch1976 PM Dutch1976
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Posted: 8/16/2012 8:30:00 PM
^ Captain Hindsight!
belvedere86 PM belvedere86
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Posted: 8/26/2012 4:25:53 AM
hmmm now it's at 8.64. do you guys think it will get up higher? eventually back to +$11?
CannedGoods PM CannedGoods
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Posted: 8/26/2012 1:18:32 PM
QUOTE Originally Posted by mr_bollox:

thanks  for the input wallstreet, gonna sell, made a nice profit, i think there is an upside but it'll take years for this drug to reach the market, get sufficient market share etc, 


Good job.  Now buy a REAL pharmaceutical company like Johnson & Johnson and go to sleep.
JEFFMARKETCAP PM JEFFMARKETCAP
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Posted: 8/27/2012 11:46:14 PM
Holy garbage.  Nice job.  I would have held.  MACD looks like we are gonna have a nice run on this stock.  About to cross

Looks like this one is gonna be at a new high soon
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