Karuna Therapeutics surges 47% after Bristol Myers Squibb announces $14 billion deal. Bristol Myers Squibb (BMY.N) on Friday agreed to buy Karuna Therapeutics ( NASDAQ:KRTX ) for $14 billion, gaining a promising new type of antipsychotic medicine to help power growth as patents on its older therapies expire later this decade. Karuna's experimental schizophrenia...
A move above 238$ could take this to new highs giving a R/R of more than 3.5R. If price goes above 262$ (78.6% Fib retracement), it's likely it can go towards the 127.2% level around 300$.
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$KRTX exploded up the charts on Monday rising 442%. This was clearly a short squeeze and we told our followers as such. After squeezing the shorts, $KRTX is out with an offering and raising money like all biotechs do on a big run. Now, it's the bagholders turn to get screwed over. Karuna Therapeutics, Inc., a clinical-stage biopharmaceutical company, primarily...