Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: George T. Santamaria who wrote (3031)	11/30/1997 10:13:00 AM
From: sam	Read Replies (2) of 6136

Some shorts invest solely on technical patterns. They see a fast, steep stock price ascension and they know the price will come down. That explains the first drop from 100 to 60. Once AGPH moved up again (higher than the previous high) they shorted again. Remember, up until recently, AGPH had no earnings to speak of -- and biotechs are some of the most difficult stocks to value. Especially since so few are successful. So the shorts felt the stock would drop to its low of 60 (30 post split) again. And, if any of the factors you specified in your post kicked in, maybe substantially lower. Now, FWIW, I feel AGPH is grossly undervalued. Fundamentally, the story only gets better. Its risky, but the potential benefits outway the potential risks. To me. So I continue to put my money where my mouth is.

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