Expect High Volume to Remain in APP Pharma (APPX)

Posted in pre-market 
July 7th, 2008

APP Pharmaceuticals Inc. (NASDAQ: APPX) is seeing a surge in trading this morning.  The culprit is an overseas buyout for some $23.00 cash per share, although shares are trading north of $23.00 because there are earn-out clauses that would entitle the holders to receive up to $6.00 more.

This stock for APP Pharma is up some 34% at $24.05 as of 9:09 AM EST on right at 210,000 shares.  The average daily volume here is only 283,000 shares, so you can expect to exponential volume here.  The possible upside in the deal will keep the interest here on a stock that would otherwise only be a one-time event gain.     The pharmaceutical producer for cancer, infections, anesthesia, and critical-care applications, is suddenly a takeover stock.

Jon Ogg
July 8, 2008

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