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Biotech / Medical : ONXX
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To: Charles Tutt who wrote (386)8/1/2000 5:49:59 PM
From: Elmer  Read Replies (2) of 810
 
You are right. The ownership changed hands and probably most of the buyers are looking for a fast buck. A bad sign.

Occasionally, a company's stock will go up 40% or more and repeat that feat on following two trading days. Rambus did it about two years ago. What may give the longs some support is the lack of coverage. If a couple analysts look over the Nature Article and begin coverage saying its a "must own", the price won't revisit $10.

If you look at a long term chart, the stock price is about the same as when it went public in May of 1996.
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