Arena Sinks as Seeking Alpha Warns of Crash After Run-Up
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Arena Pharmaceuticals Inc., the maker of a weight-loss pill under consideration for approval by U.S. regulators, sank the most in two months after Seeking Alpha warned the stock may drop following a 10-day increase.
Arena fell 15 percent to $9.88 at 4 p.m. New York time, the biggest decline since April 18. The shares had gained every day since June 8 to a four-year high of $11.68 yesterday.