Gliatech (GLIA) Message Board

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Biotech / Medical : Gliatech (GLIA)

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To: Torben Noerup Nielsen who wrote (1349)	2/19/2000 11:38:00 AM
From: sam	Read Replies (1) of 2001

Institutional shorts in biotech stocks can be particularly nasty creatures. I remember when Tiger was strangling AGPH and the stock dropped from 50 to the teens in a matter of months. Fund managers were grandstanding on CNBC claiming that AGPH was worth 15 bucks. And -- low and behold -- that's about were it bottomed. Then there was SEPR and the job Jordan Kimmel and others did to that to make it drop from the 130s to 60 or so. Interestingly, Kimmel slithered onto CNBC at the bottom of that one to tell the world to short even more! Great advise. lol I suffered their wrath in HGSI and INCY, too. This is just a long-winded way to say that hedge funds have been using biotech companies as shorting fodder for quite a while now. But, I suspect that the well is about to run dry on that strategy. Seems the Street is "rethinking" its methods for understanding and valuing the entire sector. Don't be fooled into thinking this latest "pop" in biotech was simply daytraders taking positions. The move has been too explosive and widespread. That said, I have recently taken a position in GLIA and am hoping that the shorts become the grease for a nice upward move. fwiw

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