Tekmira Pharmaceuticals Rally Fades After Ebola Diagnosis In Guinea
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
Tekmira Pharmaceuticals Corp (NASDAQ: TKMR) shares were trading lower by $0.04 at $17.53 in Monday's session. The once high-flying stock in the Ebola-related sector is not reacting to news items the same way it did last fall.
Over the weekend, Guinea took emergency measures against the epidemic when six medical staff, including two doctors, were diagnosed with the virus. The issue reacted in its usual manner, spiking off the headline during pre-market trading and early into into Monday's session.
However, after reaching $18.25 off the opening bell, it retreated well into the $17.00 handle. So far, it has found intraday support in a familiar area. After bottoming between $17.17 and $17.38 over the prior three session, it reached $17.28 before rebounding to $17.63. Over the past hour, it has been consolidating at the $17.50 level.
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