The Last Word
Get the idea? I wasn’t bashing Arena Pharmaceuticals or lorcaserin. I was pointing out the complete disconnect between the company and the stock now that euphoria and speculation have set in. The problem is, we see it all the time … particularly in pharma and biotech.
Is Arena going to be an exception to the norm? That is to say, has ARNA escaped the emotional mania that makes “investing” a bit of a joke? You know, I’d love to say it is indeed an exception. After seeing this story play out time and time again, though, I doubt that it is. I’m sticking with my “buy the rumor, sell the news” theory. You’re more than welcome to stick with your own.
As of this writing, James Brumley did not hold a position in any of the aforementioned securities.