Market Overview

Ziopharm Traders Got A Little Too Excited

Share:
Ziopharm Traders Got A Little Too Excited
Related ZIOP
Acacia, Exxon And Other Hot Stocks Among Short Sellers
6 Hot Stocks Among Shorts: IBM, Exxon Mobil And More
ZIOPHARM Oncology EPS in-line, misses on revenue (Seeking Alpha)

Volatility struck ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)'s stock on Wednesday.

Ziopharm is a biopharmaceutical company that develops and commercializes a portfolio of cancer therapies. The company's management team is currently speaking at the JPM Healthcare Conference, and a presentation will focus on the cancer side of its gene therapy research.

Shares of Ziopharm soared to an intra-day high of $6.39 per share after TheStreet's biotechnology expert Adam Feuerstein tweeted: "BREAKING: $ZIOP CEO tells #JPM17 audience FDA GRANTED THEM END OF PHASE 2 MEETING for Il-12 gene therapy. Grounbreaking regulatory update."

af.png

However, investor and traders may have gotten ahead of themselves and bought the stock merely on Feuerstein's mention.

Feuerstein followed up moments later in a second tweet: "Let's be clear. FDA doesn't ‘grant’ meetings w/ drug cos. Meetings w/ drug cos. is routine, even required, part of agency's job. $ZIOP."

af2.png

Sarcasm

Feuerstein is one of if not the most influential biotechnology pundits. When he tweets, investors and traders listen. And he most certainly has the influence and expertise to move a stock in either direction.

He acknowledged in another tweet that his first remark was indeed sarcastic.

Feuerstein responded to a tweet posted by Twitter user '@sharkbiotech," which read: "the algos thought @adamfeurstein tweet was serious."

The biotech expert responded: "You mean algos can't pick up on sarcasm? So much for computer intelligence."

af3.png

Posted-In: Biotech News Health Care FDA Events Movers Tech Media Best of Benzinga

 

Related Articles (ZIOP)

View Comments and Join the Discussion!