New York (December 18th, 2012) - Geron Corporation (NASDAQ: GERN), a biopharmaceutical company engaged in the development of therapies for cancer, is seeing pullback in trading today after rallying for a week.
GERN had been rallying since December 10 after the company presented positive results from Phase 2 study of Imetelstat in essential thrombocythemia at the American Society of Hematology Annual Meeting. The rally has ended in trading today, with the stock falling more than 2% to $1.66 in mid-day trading. In the last five trading sessions, GERN has gained more than 56%.
GERN has slipped after facing resistance at $1.75. The stock has struggled to break through this level in the past. If GERN can break through this level then the stock could post significant gains.
Facebook Inc. (NASDAQ: FB), the social networking giant, is up sharply in mid-day trading today, reversing some of the losses from the previous two trading sessions. At last check, FB was trading 1.76% higher at 27.22 on volume of 21.39 million, which is significantly below the daily average volume of 73.65 million. FB is still down more than 3.6% in the last three trading sessions.
FB rallied last month after posting impressive results. The stock rose from around $19 to nearly $28. However, the stock has struggled to break through $28 for couple of weeks now. If FB can break through this level then the rally could once again resume. FB is still trading well below its IPO price of $38.
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