its trite to say it, but this is simply a crisis of confidence it has nothing to do with the inherent fundamentals of a lot of businesses.
Everyone is heading for cash and not prepared and these speculative stocks are particularly unattractive.
AVX still has a promising drug that appears (subject to any unreleased info to the contrary) to be performing well in trials.
At these prices it must be very attractive to big pharma. I suspect that big boys with cash reserves will soon start soaking up the promising takeover targets.
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