Stock Market Alert - LXRX shrugged off the panic that gripped Wall Street on Friday, finishing the day up over 30% after spiking near the close of trading. The stock closed the regular session at $2.23, good for a 31% gain on the day. Volume was heavier than usual, with total volume of over 500k shares, compared to a normal daily average volume of 340k shares. The question becomes - what exactly happened on Friday? Was it a value investor moving into the company, finally sensing that the bottom might be near in the stock? Was it somebody anticipating a positive news release in the near future? Or was it somebody covering a rather sizable short position? This stock just appeared on our radar on Friday, and we will be delving more into the company over the coming days. It appears to offer some pretty possibilities for a long position.
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