I noticed that the market as a whole is having a bit of a down day so far this morning. KITE got punished harder than most, with a 6.4% loss on no news that I can find. Is the stock price tanking as investors sell shares to generate cash, or to buy positions in other stocks that are a bit lower after KITE ran up pretty high?
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it’s probably based on my Friday purchase of shares 
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I don’t think there is anything stock specific.
KITE, JUNO, BOFI, MELI and BLUE were down about 6-9%. So consistent with a ‘down day’. These more volatile stocks often move more (either up or down) when the overall market moves. I wonder if this is part due to computer algorithms and the risk nature of the stocks, i.e. when a stock sells a certain % it may trigger a stop/loss sell, which lowers the stock price and that continues. I’ve noticed that since 2009 it’s very common for a riskier equity to go up/down in value 5-15% in a day.
If you are in any biotech or stock with a short term binary event, you definitely want to pay attention to any actionable news. As mentioned before, when a biotech has big news it often will lose/gain 50-100%. See PULM today, it’s up 40% on a Europe patent approval and still big questions (i.e. Phase 3 trials left, ? of market uptake). The reverse may happen or worse if one of its products doesn’t work better than the original). Just an example of biotech swing. So invest in them with good risk management. One way I do that is invest in biotechs with multiple binary events, lots of cash to weather a failure or 2 & a big potential addressable market. Just my thoughts. This is obviously not a classic Saul stock - a stock with real earnings and growth.
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I bought a small percentage of KITE and protected the downside by buying put options about $10 below my buy price.