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Charts and Metastock: |
This company had an enormous gap down because of these news: Able Laboratories, Inc. Suspends Manufacturing Operations, Announces Product Recall
I believe this is a short term event and a year from now the company will probably be worth, again, about $25 a share. But that's not the reason I'm going to buy ABRX this morning. I'm buying it because I'm expecting a short covering rally.
It's now estimated that there is about 20 million shares short of ABRX. I believe the shorts didn't like the action on yesterday's session, when the stock closed 13% higher. I think they will run for cover after today's open.
So I'm going to put some money on ABRX at the open.
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