Top Takes From RealMoney

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1. Susquenom
By Adam Feurstein
7:45 a.m. EDT

I listened to a replay of the Sequenom (SQNM Quote) conference call, and the news is stunning. All of the data validating the company's genetic test for Down syndrome is now compromised and cannot be trusted, according to Sequenom. The company says the data was "mishandled" by four employees, who have been suspended pending an investigation. "Mishandling" appears to be antiseptic legal language for alleged data fraud.

Needless to say, this stock is radioactive. I don't think there's any reason to bottom-fish at this time; too many unanswered questions at this time. The big questions I have are this: Is Sequenom the gene-testing equivalent of Enron? Is Sequenom's genetic test nothing more than an illusion?

Absolutely amazing.

The repercussions of this news may spread beyond Sequenom if the two big hedge funds that took highly concentrated ownership stakes in the company blow up over this. Those funds are Ridgeback Capital and RA Capital.

No positions.