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Biotech / Medical : Biotech Valuation
CRSP 53.19-1.4%Dec 30 3:59 PM EST
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To: RMP who wrote (5037)12/3/2001 10:18:41 AM
From: Biomaven  Read Replies (2) of 52153
 
The MEDI price is down because they are paying some premium, and the arbs always short the acquiring company and go long the acquisition immediately after the deal is announced.

A chunk of the current MEDI holders also are likely to be institutions that care about near-term earnings performance. It's not the right way to look at these stocks, but that's what makes a market.

Finally, the whole market is down some today, biotechs included.

Peter
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