Monday, October 09, 2006

Trade of the Week # 2 (rarely happens)

Acorda Therapeutics Inc.'s volume rose after the biotech drug developer announced a private placement of around 3.2 million newly issued shares of common stock at $9.75 per share, expected to close on Friday. Volume increased to 13 million shares, versus average volume of 1.6 million shares, with the stock climbing $1.32, or 10 percent, to $14.89.

*Purchase price, 1280 shares at $15.27. Sold the whole position near the high of the day for $15.95.*

Net Profit : $873.60
Trading Time : 2 Hours
% Gain : 4.47%

1 comment:

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