What Investors Missed in the Market This Week
Both the Dow Jones Industrial Average and S&P 500 posted decent gains for the week, moving 0.64% and 0.72% higher, respectively. While investors were hoping for potential hints from Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi, neither gave investors any direction in regard to future monetary policy moves. The good news is that despite that letdown, investors had plenty of other juicy stories to ingest. Here are a few highlights.
There are always crazy developments in the stock markets and the plethora of publicly traded companies, and it makes a weekly recap fun to write. But a claim from short-seller Aurelius Value created a short-lived ruckus that sent shares of Petmed Express Inc. (NASDAQ: PETS) down as much as 19% during trading Wednesday before recovering most of that loss. But the story is wild: The short-seller put out an article positing that Petmed's "new-generation medications" are opiates targeted at opiate users who would use their pets' medications.
It's difficult to believe a company would act so unethically. But it's also true that Aurelius Value is a short-seller and could have an interest in driving the company's stock price lower. Either way, the Aurelius article that started the controversy put Petmed in a bad light.
Source: Fool.com
