Everyone who sold during the plunge got destroyed. Dendreon more than doubled back up in extended trading after the company presented Provenge data at AUA.

Dendreon skyrocketed $14.42 (120%) to $26.20 as of 7:40PM in New York after the Nasdaq Stock Market lifted a halt in trading of the shares. DNDN dropped more than $16 between 1:25PM EST and 1:27EST, minutes before the company released results at AUA.

Check out our timeline below…

11:22AM EST

Yahoo! Message Boards, which we browse from time to time, gets a post from someone named monthaphumchareon. Post reads “HIGH PROBABILITY MASSIVE BEAR RAID 12 30 pm central today, DNDN could easily drop 50 % on a massive bear raid its coming.. today @ 12 30 pm central.” [Yahoo!Finance]

12:30PM CST/1:30PM EST

DNDN stock drops 40%+, almost $10 to $12 and change on close to 3M shares. The stock is halted. Data not released yet.

1PM CST/2PM EST

Data released showing an extended median survival of 4.1 months and increased 3-year survival by 38% compared to placebo. Study shows a reduction of death by 22.5% vs placebo with a p-value of 0.032. [Xconomy]

1:29PM CST/2:29PM EST

NASDAQ MarketWatch investigates potentially erroneous transactions executed between 13:25:00 and 13:27:02 ET. [NasdaqTrader]

2:01PM CST/3:01PM EST

NASDAQ claims it reviewed the transactions under rule 11890 (b) on its own motion filing involving DNDN trades executed between 13:25:00 and 13:27:02 ET determined that all trades will stand. The decision cannot be appealed. [NasdaqTrader]

So what gives? Who knew something? Did someone just really set up a lot of people just to pull the rug out? Fortunes and life-savings made and lost this afternoon…

Image from themarketguardian

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