Recent good news at Bluebird Bio, Inc. (Blue) - worth a look? Dec-07-17 Bluebird bio and TC BioPharm Announce Strategic Collaboration to Research and Develop Gamma Delta CAR T Cell Product Candidates for Cancer Immunotherapy Business Wire +5.33% Here's Why bluebird bio's Shares Soared 24% in November Motley Fool Dec-05-17 Bluebird Bio (BLUE) Bullish Camp Just Got Stronger SmarterAnalyst
Absolutely. I sold 10 of my last 20 shares yesterday well above $200, so it's a little hot right now. But it's a very good company with excellent drugs in their pipelines. I will likely add to my position again when it cools off. I've been in and out of this one over the last couple of years, and when I last took a new position here in late June, it was trading just over $100. So it's had a big runup in a short time for a multi-billion dollar company.
Looks like the buyers have been chipping away and then the shares finally spiked prompting a bout of profit taking - potentially an interesting buy on weakness as you say
That is quite a fall from the recent spike - any underlying issues came to light since the price spiked or simply profit taking?
These biotechs are like that - when they get a drug approval or other good news, most of them spike up dramatically, then tend to fall back down a fair amount. They're very volatile - particularly the smaller ones that may be as little as 7 figures in market cap and that often trade at very low prices. I tend to own many of these biotechs and in small amounts - when the news is bad, they're known to fall as much as 70-80% overnight in some cases. Diversification and careful handling of these is essential if you're going to play with them.
Yes, the short term spike is common and then profit takers come in and the process of researching the future potential starts. If there really is anything behind this new development then the shares will start to pick up again - very soon in my opinion.
