InterMune Inc. (NASDAQ: ITMN) just imploded after-hours.Â The stock has traded now over 14 million shares listed as of 5:31 PM EST and the 5.4% drop to $45.44 during the regular session looks like kids play.
Now shares are down 78% at $9.58 and we saw prints down even around $9.00.Â That is close to $2 billion in market cap destroyed in the after-hours session. Mark that as a new 52-week low as the prior range was $10.48 to $49.46.
Ugly, and fugly for that matter, just took on a new name.Â That name is InterMune.
JON C. OGG