>> Obviously, the market does not think that this company will make it. <<
I'm not certain that's true, unless one uses a very broad definition of "the market". It's interesting to watch. Short interest is down six months straight, with 45% of the position covered.
I don't know what to think. The bashers at Yahoo are particularly uninformed and foul-mouthed, and I believe that at least one of them tracks back to a group -- with interesting ethics -- in Scottsdale.
$7/share cash, a book that will continue to increase into the next (this) quarter IMO (the total authorized buy back is $20M), and a respected program for the huge HCV market with Wyeth (IND submitted last week).
I've been watching it for months. I feel like a fool, on occasion, for saying this, but..... this is what I would expect naked shorting to look like.
The alternatives??..... while there is never a "hell bent to get out" seller, there is always someone there to cap enthusiasm. They use several ECNs simultaneously, and show decent blocks on the ask. I guess that it's possible that we have a small time short, selling to the big guy/gal shorts as they cover. It's also possible that there is still a major seller, but he/she/they would need have patience beyond belief. Volume is often nil, but they're always there. |
