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Biotech / Medical : Ligand (LGND) Breakout!
LGND 185.86-0.1%Feb 11 3:59 PM EST
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To: Arthur Radley who wrote (7363)9/23/1997 10:26:00 PM
From: Andrew H   of 32384
 
Well, TD. I am skeptical. True, the diabetes factor is a large one for LGND, but there are many far more financially lucrative potential deals out there than LGND's diabetes deal that the MMs would watch a lot more closely. Furthermore, everyone knows the difficulty of timing these biotech deals. What if the MMs had done the same thing with reports on the leptin deal? Yes, I know the leptin deal was much smaller, but my point is the difficulty of the timing. Somehow I doubt the MMs are hoarding away shares of LGND in anticipation of higher prices. I have to believe they have larger fish to fry and larger deals to speculate on if they were in that sort of business.

Or maybe even smaller fish--one would find far great percentage moves in penny stocks if one were an MM. More shares and easier to manipulate.
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