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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: Paul S. who wrote (295)3/19/1998 12:10:00 PM
From: F. Jay Abella, III  Read Replies (1) of 1185
 
Paul:

Good work. I didn't realize that the warrants were issued to Dr. Walker's firm (assumedly friendly hands). I guess I have been shellshocked by in-the-money warrants so many times that I automatically think the worst. However, outsiders also think along these lines. They see in the money warrants and immediately they short - many times without knowing anything about the terms of the deal. That was the mistaken assumption that underpinned my last post.

However, I may not have been alone. Notice NRT's chart earlier this year. Prior to the $0.72 warrants approaching their ex-date (18Feb1998), the stock was under $1.00. Look at the volume and the price since around Feb12 (notification of intent to brokers day?).

Remember the ACIC announcement was Feb 5th, the stock popped and dropped immediately. That is, until the 12th.

Pure coincidence? I hope so.

FJA
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