Should You Buy the Dip With MannKind Stock?
You knew it was coming.
It was inevitable that MannKind (NASDAQ: MNKD) stock's red-hot momentum would come to an end. The biotech's share price more than tripled in less than two weeks. However, MannKind stock dropped by as much as 20% on Wednesday during intra-day trading after the company announced it was selling newly issued stock. This shouldn't have surprised anyone since MannKind needed to raise more cash and recently completed a warrant exchange that cleared the way for the stock offering.
But while it didn't take a Nostradamus to know MannKind's momentum would at least take a breather, the future for MannKind is more difficult to predict. Should you buy the dip -- or stay away? Here are what I think are the best arguments for each option.
Source: Fool.com
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