Avanir and Exact Sciences Crash in Afterhours Trading

Exact Sciences (EXAS)  has crashed steadily since yesterday's close of 8.57.  It has slumped to the 6.90 range after yesterday announcing Positive Study News.  Unfortunately, this is just a study which will lead into a lengthy clinical trial that will cost money.  I think investors have been misled by this news and now they don't know what to do and are panicking.  Hey Stop Panicking.

Exact's stock is rated a buy and will soon return to the 9-10 range in a few months and could skyrocket to 13 with Positive Clinical Trial News.  There really is no quick buck when it comes to stock investing.  It happens, and it can happen, but more times than not, these things take time. 

On other news Avanir's Stock (AVNR) has declined sharply in afterhours saying they have not heard from the FDA and is anticipating news concerning their approval for psuedobulbar affect.  I am expecting a CRL from the FDA and no approval and this would be devastating to Avanir Shareholders.  But it could get approved.  It does have a fighting chance. 

In other news Vivus receives a CRL for Qnexa and the share price has gone up.  That one I really don't get but investors sometimes don't know what they are getting themselves into.  Sure if approved it would be monumental, but I don't see that happening anytime soon.  Vivus' shares are up 26.43% at 7.75.  Today it gained 1.62 points.  I don't see this ride ending well for investors but what do I know.  I am baffled at the stock market right now.

Wikinvest--Exact Sciences (EXAS)
Wikinvest--Avanir (AVNR)
Wikinvest--Vivus (VVUS)

Exact Sciences Announces Positive Results For Cancer Diagnostics Screening

Exact Sciences is experiencing a wild After-Hours Ride Today.  It has dropped significantly below 6.50 then back up to 8.57 and now back down to 6.75.  I wonder about a flash crash happening in after hours trading and how much investors are selling off their stocks.  Right now Exact is down 1.83 at 6.74 a 21% loss.  But it will be right back up tomorrow so I'm not sure what is really going on.  Massive afterhours sell-off is causing a crash.  Take a look at afterhours trading news here at Marketwatch:  EXAS

Now is not a time to sell as trading Friday could be significant gains with news of a successful Diagnostic testing for Colon Cancer screening.  But what is going on with Investment Banks right now in after hours trading is somewhat troubling.  How much is controled in after hours trading is a mystery to me, but I know it is not the average investor making these moves.  Internal trades are happening at this moment but why is the price of Exact Sciences dropping so much.  Trading was halted earlier today in anticipation of the news release.  Here is that news. 

Exact Sciences says colon cancer test successful

* Screening test detects 64 pct pre-cancers

* Detects 85 pct cancers
* Exact Sciences test detects 87 percent of tumors

* Finds 64 percent of pre-cancerous growths (Adds details on 2nd test, refiles to fix headline)