Amarin Falling Again

Shares of biotech Amarin Corp. AMRN fell more than 7% on Monday, and at one point were trading more than 12% lower. The stock is getting hit again on Tuesday, falling nearly 3% to $16.69 in early trade. The sell-off yesterday was likely attributable to some comments from the CEO at an investment conference. He said that the company is looking at partnerships for its cardiovascular drug, but that there was nothing on the table currently and that they were willing to go it alone if need be. It seems that some investors are looking for a buyout or a substantial partnership in the near-term, and were disappointed by the comments. This stock will likely be volatile again today, and should present some opportunity.