Biggest Nasdaq Losers This Afternoon: PPHM, QCOR, BIOF, VECO, GTAT, VVUS

Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM) is down 76.62% this afternoon at $1.26. PPHM has seen huge volume today with 60.5 million shares traded today, way above its average of 4.4 million shares. PPHM shares are cratering today after a test data review showed major discrepancies between patient sample test results and patient treatment code assignments. The company has a market cap of 133.36 million.

Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) is down 34.88% today at $19.62. QCOR has traded 28.1 million shares this afternoon, well above its daily average of 4.2 million shares. QCOR shares are taking another big hit today after the company faces government inquiry over its promotional practices. The company has a market cap of 1.21 billion.

BioFuel Energy Corp. (NASDAQ:BIOF) is down 13.15% today at $6.20. BIOF has traded 506 thousand shares so far today, more than double its daily average. BIOF shares have been trending lower over the past week and have loss nearly 40% of its value since September 18. The company has a market cap of 31.58 million.

Veeco Instruments Inc. (NASDAQ:VECO) is down 10.24% today at $31.38. VECO has traded 2.06 million shares so far today, well above its daily average of 760 thousand shares. VECO shares are down today after the stock was downgraded by Goldman to sell. The company has a market cap of 1.23 billion.

GT Advanced Technologies Inc. (NASDAQ:GTAT) is down 9.55% today at $5.87. GTAT has traded 6.7 million shares this afternoon, 3 times its average volume. GTAT shares are tumbling after announcing to offer up to $175 million convertible notes. The company has a market cap of 689.94 million.

Vivus Inc. (NASDAQ:VVUS) is down 9.55% today at $19.00. VVUS has traded 6.3 million shares today, 2 million shares more than it usually trades per day. VVUS shares are trending lower today on reports Europe may reject diet pill from Vivus. The company has a market cap of 1.91 billion.

About Kyle Pinder

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.

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