>> Margin Call, Sold 14000 BTRN shares at closing price of $3.05. <<
This is a great example of "perspective" in biotech investing.
BTRN has performed like crap, correct?
I recommended BTRN as a VDXX component on 03.12.98, after biotech had been beaten to near death, summer '98. Low priced biotechs, lacking sponsorship, had been left to a new breed of funds, hedge funds that were willing to attack/short in the sector. The closing price that day was $1.75.
It was "purchased" at $2.25 on 15.01.99 (there were subsequent purchases for the portfolio, but, hey, we're talking "perspective" here).......
Message 7311182
The perspective? Since then, BTRN has done almost everything wrong at each and any elective turn. Nonetheless, a well-timed purchase has done better than a bank account. Biotech has, after a string of bad performances and a monstrous bear, again been set upon by hedge funds. Many quality companies are selling at a modest multiple to cash, if not below it. |
