Very interesting day. Buy the rumor sell the news is in full...

Very interesting day. Buy the rumor sell the news is in full swing. The 'rumor' being this approval, which I think we just assumed was a done deal. And when everyone assumes it's a done deal and purchases accordingly, there's little headroom for additional growth when the news drops? That's my understanding anyway. The thing is though, it's very good news. Even knowing people would sell, I thought we'd have a green day.

IMO a drop is a little unexpected, and a drop of 8-9% is a genuine surprise to me. I doubt anybody is selling due to disappointment, so this is entirely an un-doing of the hype?

This is something I learned-by-doing the first time I took profits with the intention to re-buy. Didn't consider the tax and I had my expectations all wrong. It was a good lesson in learning that the the more profit I make, the lower the re-entry price has to be. I even made a little calculator for it, and using your numbers I get the same answer so it's nice to see my math validated!

Selling at 33c to re-buy below 30c is fair enough though, depending on what they initially paid and their average tax rate.