Andrx has a unusually small float, and based upon trading patterns appears to have very few shares available. This translates to big price swings either up or down. I have tripled my position from shortly after the IPO and remain a buyer. I am less concerned at price as I am more concerned in obtaining shares at these low levels.
Let's just say Andrx remains my largest portfolio position, and I expect to continue adding to that position. As you well know, the company is awaiting two approvals, and the conventional approval time frame 18-24 months in right upon us. I believe the first approval will send a wave of buying almost immediately, as it will validate the technology, provide earnings, and demonstatre the company's ability to negotiate the entire process from litigation to getting the approval.
I remain extremly confident in the company, and to execute a private placement in the middle of the year at $25.50 was purely a brilliant
move. Obviously it did wonder's for the stock. Capital Research of California was the institutional buyer, as reported on Infoseek.
They certainly have the clout and capability to understand the value
of the company, and were willing to pay very close to the old high in obtaining shares. If Watson & Capital Research are that confident, I believe it's safe to assume they plan on the stock doubling as well.
Every week, I scan through all the search engines in search of news on the company. On occasion, very good articles are published, but only appear breifly, requiring repetitive checking. Sometimes you will find
suprsingly good information, but it obviously requires a lot of work.
So you may want to try that suggestion as well. |
