Obama Overturns Ban, Stem Cells Pull Back from Highs

Stem cell stocks opened at their highs from the Friday after hours prices, and slowly eroded all day to trim their gains to more modest ones. Most had to settle for 15-30% gains rather than the lofty 30-80% gains they had Friday night.

ASTM +33% (was +82% a.h.)
ARIA n/c (gave up 17% gain)
ATHX -.02 (gave up 38% gain)
CYTX +12% (was +43% a.h.)
GERN +16.5% (was +40% a.h.)
CUR +22% (was 69% a.h.)
OPXA +13% (was 47% a.h.)
OSIR -.04 (gave up 5.5% gain)
STEM +43% (was +67% a.h. - held up the best I suppose)

Obama did finally overturn the Bush ban on stem cell funding, which everyone had expected weekly since the inauguration. Here's the Forbes story on that:
Obama Overturns Funding Ban

The naysayers are once again warning that any drugs "are years away", which I've heard since the 90's, so that decade of waiting should be over now, and that money will "take a year" to reach these companies. Still, it's free money, and should help the micro cap companies the most.

Disclosure: today I went long ASTM, CYTX, and STEM.