Diamonds and Dogs

9/19/16

Good news for Sarepta and their patients. The Cambridge-based Sarepta Therapeutics (SRPT) is jumping 80% thanks to the U.S. Food and Drug Administration granting accelerated approval to the first drug in the U.S. that can slow the progression of Duchenne muscular dystrophy. Patients, typically boys, with Duchenne muscular dystrophy will now have access to an approved treatment for this rare and devastating disease that causes progressive muscular weakness.

Risk off day. Everything that has been working is not working today. Wynn Resorts (WYNN) is down 4% on a downgrade along with the rest of the casinos. Other recent highflyers like Twitter, Micron Tech, Facebook, Alibaba, Amazon, and Apple are all lower as well. Looks like the correction continues.

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