This has been some incredibly dull price action today. In fact, so boring, volume is close to coming in below the half-day of trading on Christmas Eve.
That is really saying something!
Nonetheless, keeping up with the biotech theme today, we’ve got some news in the form of a guidance cut in Valeant Pharmaceuticals International (VRX) that dropped its price another 15% today. That’s now more than 90% that the stock has dropped since the highs that were established in August of 2015.
Ironically, Forbes marked the top in Bill Ackman’s career with the “Baby Buffett” Forbes cover.