Monday, July 30, 2007

Hoku, Dendreon longs feel the pain

While I view some of my favorite stocks as pricey, they're doing better than small-cap underdogs HOKU and DNDN.

Hoku took another pummeling today, down 2.6% to $9.04. It's been a steep decline from a recent high above $14, but it's not a shock considering the Co is, at earliest, 18 months away from producing polysilicon. I'm bullish on the Co, but I'll wait this out before picking up more shares.

Dendreon had a freaky moment early in the day when CNBC's Mike Huckman gave viewers a teaser about the Co. That sent the stock on a wild ride from the $7.50 range to $7.93 in less than 10 minutes. Turns out, Huckman was referring (on his blog) to a lawsuit filed in Ohio against FDA honcho Andrew von Eschenbach in regards to prostate cancer immunotherapy treatment Provenge.

It didn't take long for buyers and sellers to get the marbles back into their heads. DNDN closed the day down 2.1% to $7.51.

Pupule Paul is slightly long HOKU and DNDN.

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