Jeffrey,
Got to work on a couple of projects. ATHM and ENZN. ATHM is complicated, may be a while before I can comprehend all the things they're up to. Looks cheap, though, doesn't it?
Have dug more deeply on ENZN. They just priced (3/24) a secondary, where ABSC withdrew theirs. Including full exercise of the over allotment, it has added 2.3M shares @ $44.50.
10kwizard.com
They have two pretty hot looking (from my perspective, currently unenhanced by pronouncements of people who know a lot more about these things) platform technologies, both of which are seeing use. They've been around since '81. Sifting through the past year's 13Gs & Ds, I see that the State of Wisconsin dumped a small stake in '99, while both Janus and Aries increased positions and DCF stood pat, as of 1/1/2000. This batch of filings, made from January through early March, seem to be the annual statement of position.
Now here's what's interesting. Look on page 53 of the above referrenced document, circa 3/20/2000. You see Janus listed among the beneficial owners and directors. You do not see mention of either DCF or Aries, who collectively represented more than 10 million shares as of 1/1/2000. Does this mean they are gone? That this February rally was the rally they were waiting to sell into?
If so, we can expect to see a lot of Aries backed stocks continue to drop when the news becomes more widely known.
Am I reading too much into this, or I have I just found a major clue?
Cheers, Tuck (who is now short PCLN) |
