Zonagen (zona) - good buy? Message Board

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Biotech / Medical : Zonagen (zona) - good buy?

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To: Michael Bidder who wrote (988)	12/15/1997 1:53:00 PM
From: Bill Wexler	Read Replies (3) of 7041

<<If a company is buying back stock can the insiders still sell.>> Yes, and very often they do. One of the biggest red flags to a short-seller is when a marginal company suddenly announces a token share buyback immediately after a drop in the stock price. One of the things that really startled me about ZONA was the low short interest. I guess this one has been flying under the radar of the general short-selling community until Asensio started writing his reports. I was watching the price/volume activity over the past few days and it is fairly obvious the stock is being dumped...and fast. There is absolutely no support from short covering. I believe that Asensio's target of <5 a share is quite likely.

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