Yesterday, a stock in our portfolio since 2011 reported positive Phase 1 results for a drug intended to treat fatty liver disease. The stock has been a good performer in our portfolio over the last year, more than doubling in price. When I reexamined the portfolio several months ago and decided to sell about half our stocks, I chose to keep it.Yesterday, the stock plummeted about 60% because of negative publicity on social media websites.
I have purposely waited for the dust to begin settling on this stock and have looked very carefully at the Phase 1 results.
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