Uhh, in case you guys didn't notice, BSX tanked big time on Friday. I was amazed that CGEN didn't follow suit, seeing as their 1.3M shares of TGET became 1.39M shares of BSX earlier this week, due to their merger. Well, BSX fell from 60 1/2 to 46 1/8 down 14 3/8 on Friday (biggest loser on the NYSE on a day when the Dow was down over 140 pts.). That translates to a one day loss of about $20M in equity holding to CGEN, who's market cap is only $166M, ie.) they just lost an equivalent of 12% of their market cap in one day and the markets just didn't seem to notice, YET! I don't think the CGEN shareholders have caught on yet, as it had low volume Friday and only closed down an eighth. Well I did, I dumped my CGEN stock Friday. Seems like it could be a good short in fact. Just thought I'd give you the heads up on the situation.
Hang on to your shorts, so to speak.....
Dave |
