Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 50.30

+0.2%

3:23 PM EST

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To: johnsto1 who wrote (1792)	10/5/2000 8:53:29 AM
From: Biomaven	Read Replies (2) of 52153

creative way the insiders can actually sell before the lock ups using shorts and things so it doesn't have so much of a pressure on the price... No, the insiders themselves can't short ahead of the lockup expiration. However, the (underwriter) MM's can and do short in anticipation of forthcoming insider selling, as do short term trader types. This has the effect of moving the price weakness forward some and spreading it out over time as well. If volume climbs substantially without the price falling much, it may be an institution seizing on the lockup release to initiate or increase a position. Be interesting to systematically study price/volume behavior in the period around a lockup release. Peter

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