Shorting CRME (Cipher Pharma) Stock – $900 Day Trade

Shorting CRME (Cipher Pharma) stock after a 70% jump on partial acquisition PR.

CRME sold its Canadian business portfolio to Cipher Pharmaceuticals for $19.5 million. This looked like a strategic move made from a position of weakness to me, and the resulting market cap seemed inflated and unjustified. The market agreed, and the ensuing crash resulted in a quick $900 profit.

Leave a Reply

Your email address will not be published.