The Dean’s Trades: Short IDEV @ $3.71
September 26th, 2008 at 10:19 am Posted by The Dean
I was able to borrow Indevus (IDEV) shares and just shorted the stock @ $3.71. IDEV is up 121% intraday after announcing an improved FDA timeline. IDEV is a pharmaceutical company developing Nebido, a long-acting testosterone injectible. Today’s news is great– they can use existing data and resubmit their FDA application in 1Q 2009 and won’t be required to develop new clinical trials.
But who really cares? The new drug won’t be out until at least 2009 and IDEV stock looks like a dog with fleas. We’re at the start of a major bear market, and The Dean believes the best way to profit is to short the rallies.
