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Why Amarin Stock Crushed the Market on Tuesday

·1 min read
Why Amarin Stock Crushed the Market on Tuesday
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  • AMRN

Shares of biotech Amarin (NASDAQ: AMRN) shot more than 3% higher on Tuesday. In a regulatory filing submitted after market hours on Monday, hedge fund Sarissa Capital Management revealed that as of Sept. 30, it held an 8.5 million share stake in Amarin. Activist investors like Sarissa Capital Management frequently take out small, anchor positions in companies to effect change and "unlock" purportedly dormant value in their shares.

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