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Biotech / Medical : VISX
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To: Daryl Gresham who wrote ()3/5/2000 12:46:00 PM
From: yosid  Read Replies (1) of 1754
 
I'm going to speculate with a few facts and a bit of hype:
I must assume VISX management must have some knowledge how events Monday may affect their stock price. The shorts will be nervous with millions upon millions of shares exposed and this stock driven down from a 52 week high of 103. Also, VISX is already on record to buy back a significant block of their shares.
Everyone knows a favorable ITC ruling would turn around much of the main cause of VISX's recent problems, and trying to buy back short shares could get interesting.
So, Monday comes!
The day traders smell a huge trap and start (pre-market) bidding, and the stock trends up.
The longs hold their shares and pray for a run that reverses some of those killer loses. VISX drops a press release early about excellent procedure royalties for the quarter, and/or an order for a few million shares at market, and/or a merger that will jack up their technology status. The MM's and daytraders go wild!!!! The shorts get caught in a frenzy of buying and can't get out. CNBC starts an hour to hour mention keyed from the volume and price fluctuations.
The ITC drops a favorable ruling for VISX.
(Guess who gets a margin call?).
(OR) The ITC drops an unfavorable ruling. Who cares? The stock is back to a level better than it has been for months. Goodbye Lawsuits! The shorts are out or burning cash from a market imbalance.
The company starts to move like a bio-tech.
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