Should have put in the link.
http://www.newsday.com/news/nationworld/nation/ny-usdrug063697862mar06,0,3863322.story?coll=ny-nationalnews-headlines and said the stock has gone -back- up (i.e. recovered nicely) and will probably continue upwards.
Allowing for the state of the current market, it would not have been a bad share to buy and hold onto at 58$.
It will probably hold it's value fairly well if the recently approved therapy fulfills its promise, and go on to make a profit for those who bought at $58.
Which brings me to another point I neglected to make. Selling stock and making a profit isn't a crime. Selling the stock wasn't Martha's crime, acting on her broker's advice wasn't a crime - it was always overreaching to allege that this was insider trading, even if the "worst" was assumed to be true about Martha.
You want her creamed for something she wasn't convicted of doing. She had a perfect right to sell the stock. Just not to lie about her broker calling her.
Ask me about the Apple I bought at a hundred and I'll tell you someone ought to go to jail (Dh for making me buy it) but of course I would be joking. Ask me if I should hold onto my shares and expect to make a profit, I'll say of course I should. I bought those shares for the long term and held onto them because I expect the companys products to take over the market. My prediciton about the i-pods and the penetration of high-end apples in the scientific sector was right on.
Retirees who risked money on imclone did it because of a promising new treatment for cancer it developed. It's been approved now. If they thought the 58$ buy was a good one because of that, they can hang onto the stock for exactly the same reason they did before.
If they are just trying to gamble and get a quick profit on the vagaries of market cycles, including human emotions of confidence or panic, then they get what they deserve, and should be glad the stock has held most of its value instead of tanking.
Just want to add somthing I left out - Selling stock and making a profit isn't a crime...even if the people who buy it from you lose money.
She wasn't convicted of insider trading. They couldn't even get that charge to a jury. Assuming the worst was true, her acting on her brokers tip isn't insider trading.