Day Trader Alert: CombinatoRx Crushed

Posted in General 
October 6th, 2008

CombinatoRx, Incorporated (NASDAQ: CRXX) is a thin volume stock seeing its stock implode this morning.  The company released poor Phase IIb study data of Synavive for Knee Osteoarthritis and its shares are paying the price.  Shares closed at $3.00 Friday and its 52-week trading range was $2.86 to $6.99. Its pre-market stock trading indications are down nearly 67% at $1.00 in pre-market trading.  We have yet to see any sudden increase in volume as only a few hundred shares have traded at 8:35 AM EST, but the price indication is severe.

This stock trades on average about 90,000 shares per day.  It appears that stock options do exist in the stock but are very thin trading  volume.  Shares were briefly halted at NASDAQ.

Jon C. Ogg
October 6, 2008

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