Down 30% in a Week, What in the World Is Going On With Bluebird Bio Stock?
Despite the Food and Drug Administration (FDA) approving its sickle cell disease (SCD) gene therapy last week, Bluebird Bio (NASDAQ: BLUE) is having a very bad time right now. On Dec. 8, the day of the approval, its shares crashed by 40%. From market close Dec. 7 to market close Dec. 14, the stock dropped roughly 30%. To make matters worse, there's reason to believe that the company is going to be in uncomfortably hot water for at least a while longer.
So what is happening with this stock, and what should investors make of it?
Bluebird's victory with getting its SCD therapy approved by the FDA is, unfortunately, already looking like it's going to be far more bitter than sweet.
Source Fool.com
