>>so why has it tanked?<<
tony, the avg dan diego biotech company is down approximately 60%. we are in one of those "shoot 'em all and let god sort 'em out mentalities." i'm mostly long in the small cap arena and let me tell you, it has been ROUGH on EVERY stock i own. as an aside, lgnd has slightly recovered from its lows almost in lockstep with other bios and small caps.
that being said, lgnd does have some individual problems. was lgnd pumped to allow some to dump? possibly. surely lgnd is not seen as the stock with the midas touch as it has tanked with everyone else. was every other bio with avg losses in price hyped so insiders can sell? maybe, but much harder to believe.
imho, this is a very weak market for illiquid, small/medium and risky companies. we have our own "nifty fifty," imho. stay away from everything else.
if the market stays bad then nda approvals may only be enough to keep us even, if that. when, if... the bios bounce back it will be interesting to see if lgnd does so with at least as much zeal.
boy, i'd love to have enough cash to buy a serious position in a basket of bios. cegem genzl and gztc are on my list. they look cheap w/ great prospects for profitibility, imho. i already bought my lgndw and don't plan on buying more. |
