Henry,
I am afraid that the last ten minutes of trading saw about 130,000 (!) LGNDW change hands. It has to be Farallon unwinding. The bid is now under $5, and therefore, LGNDW just lost margin status on Datek, and possibly with some other brokers, as well. That is not good news for those of us, like myself, who have a large, and leveraged, LGNDW position. I am still okay, but I suspect there will be those who have margin calls to answer in the next few days.
Ligand warrants are now a truly remarkable bargain. Would that I had the cash reserves to take advantage of it....
Regards,
RB |
