Dendreon Corp down 67.38% in one day. $11.69 today, 52 week high of $43.96.. Ouch!
 

http://www.reuters.com/finance/stock...?symbol=DNDN.O

Avg volume: 2.6m.. Today's volume: 59m. :P

I think a few stop loss orders were executed.. Goddamn that's a tank and a half..

And this corp still has a market cap of nearly $2B.

It was a combination of a general market decline and its failed estimates. See http://www.reuters.com/article/2011/...pe=companyNews

To have had these put options yesterday.

DNDN Aug 2011 17.500 put
Prev Close: 0.01
Last Trade: 5.75
Change: 5.74 (57,400.00%)

http://finance.yahoo.com/q?s=DNDN110820P00017500

Funny, a big reason that I never use stop loss orders is because I was holding DNDN during the bear raid before they announced Phase III results for Provenge. A bear raid is when big funds sell en masse to flood the market with shares to trigger the stops and cause panic sells so they can buy back at a lower price than they would have on the way back up.

As for DNDN, I'm very familiar with the stock and the company but haven't held any shares for awhile. I've been researching it a bit today and, from what I gather, medicare wasn't going to initially pay the 93k per patient for provenge. That has changed and medicare will pay, but word hasn't yet spread to the doctors b/c DNDN has yet to fully implement it's new sales strategy.

I'm thinking about buying some DITM Leaps if and when they hit the market.