Stock Of The Day: Bull Trap Snares SIGA Technologies On Heels Of Mpox Study
Portfolio Pulse from Mark Putrino
SIGA Technologies Inc (NASDAQ:SIGA) experienced a significant price drop after releasing disappointing trial data for a Mpox treatment, followed by a brief surge. The stock is currently facing a 'bull trap,' indicating potential further declines.
August 16, 2024 | 6:17 pm
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SIGA Technologies released disappointing trial data for a Mpox treatment, causing a 20% drop in stock price, followed by a 15% surge. The stock is currently facing a 'bull trap,' indicating potential further declines.
The disappointing trial data led to a significant drop in SIGA's stock price, and the subsequent brief surge suggests a 'bull trap.' This pattern often leads to further declines as sellers overpower buyers.
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