Biogen ($BIIB) – "Hahaha, pranked ya!" is what the FDA probably said to Biogen. After approving the pharma firm's new Alzheimer's drug just a few weeks ago, the FDA pulled the rug and decided to investigate itself and the process behind the scenes of the approval, sending shares down almost 3%. Not a good look for Biogen, and a really bad look for the FDA, but a classic prank nonetheless.
Virgin Galactic ($SPCE) – Shares in Virgin Galactic have always been volatile and founder Richard Branson's flight is not helping. While up 35% in the last month, $SPCE fell back to Earth a bit on Friday, closing 6.6% lower. With mostly positive news leading up to yesterday's launch, I believe this absolute roast from Blue Origin is what triggered the selloff. With Branson being up in the sky, we'll have to see if the stock joins him up there today.
Peloton Interactive ($PTON) – Fitness hardos must've taken a rest day on Friday as shares in the annoyingly popular exercise equipment company took a 5% hit. That, or maybe it was the news that CEO John Foley sold 100,000 shares. Despite the drop, Peloton was a big winner during the pandemic, returning 461% in 2020. Can you blame Foley for taking some winnings off the table?