"Shorts, longs fight over Intermune
Adam Feuerstein
9-05-02 04:08 PM EDT
More on the biggest battleground in biotech these days: Intermune (ITMN-Nasdaq).
Longs and shorts have been jabbing each other over this stock for more than a week.
About 45 minutes ago, the company finished up a presentation at an investor conference where its drug,
Actimmune, was topic No. 1. I just got off the phone with a couple of sources (one long, one short)
who were in the breakout, and it seems as if the opinions are still sharply divided. My long source
says Intermune did a great job, that Actimmune data looked good and the shorts tried, but failed,
to poke any holes in the story. My short source, of course, said exactly the opposite!
The only thing they seem to agree on is that Intermune's IR guy was seen sweating through his shirt.
A sign of fear, says my short source. Mr. Long says he was sweating because the room was stuffy and
the guy is overweight. LOL.
The tale of the tape is just as inconclusive. Intermune sold off hard immediately after the
breakout session ended (an ominous sign) but then it bounced back. Let's call this one a draw."
(ITMN is falling slightly in after-market) |
