Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 200.79

-0.2%

Nov 14 9:30 AM EST

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To: Night Trader who wrote (15002)	2/13/1998 3:08:00 PM
From: Wallace Rivers	Read Replies (1) of 32384

As one who was a broker and is a current money manager, while a complete idiot on bioscience, let me add something of substance to this thread concerning WS coverage. Coverage begins BEFORE secondary offerings (and those participating in the secondary provide research coverage), because WS firms make big bucks from banking business. Typically, WS likes to juice up a stock prior to the secondary, so more $$ can be brought in. The secondary gets done, the company and the bankers are joyous, positive research continues, and the stock hopefully continues to rise, making buyers on the secondary happy, as well. Not a formula cast in stone, but one I have seen repeated many times.

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