BioScrip's stock extends plunge after merger terms disappoint, but analyst recommends remaining bullish [MarketWatch]
BioPlus Acquisition Corp. (BIOS)
Last bioplus acquisition corp. earnings: 11/6 06:00 am
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Source: MarketWatch
BioScrip's stock extends plunge after merger terms disappoint, but analyst recommends remaining bullish Shares of BioScrip Inc. BIOS, -10.79% tumbled 9.0% toward a 9-month low in midday trade Monday, extending the sharp reversal suffered early in the previous session as investors digested the terms of the company's merger deal with Option Care Enterprises Inc. On Friday, the stock soared as much as 71% in premarket trade, and as much as 8.0% during the regular sessions, before pulling a sharp U-turn to close down 20.3%. Canaccord Genuity analyst Richard Close said that while investors may have to suffer some short-term pain, given the disappointment that BioScrip shareholders will own just 20% of the post-merger company, but he remains bullish given the long-term potential. "The need for scale in health care is increasingly paramount as the provider and payer markets consolidate and reimbursement risk is always present," Close wrote in a research note. "Thus, having scale is a sign
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