Top Takes From RealMoney

The RealMoney contributors are in the business of trading and investing all day on the basis of ongoing news flow. Below, we offer the top five ideas that RealMoney contributors posted today and how they played those ideas.

TheStreet.com brings you the news all day, and with RealMoney's "Columnist Conversation," you can see how the pros are playing it on a real-time basis. Here are the top five ideas played today. To see all that RealMoney offers, click here for a free trial.

1. Dendreon Shares Rise on Hoax Press Release
By Adam Feuerstein
9:59 a.m. EDT

Dendreon (DNDN Quote) shenanigans: Yesterday at 12:56 p.m., someone posted a phony press release on the company's InvestorVillage.com message board claiming that the FDA granted "fast track" status to Dendreon's prostate cancer drug Provenge. The phony press release was dated May 6, 2009.

The date stamp one day in the future was a quick tipoff that this was a hoax press release, as was the fact that FDA granted Provenge fast track status in 2005.

Still, the fake got the job done for whoever posted it. Dendreon's stock price went from $21.83 to $22.33 in a bit more than an hour after the fake press release was posted to the IV message board -- more than enough for a quick trade.

No positions