Ligand (LGND) Breakout! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Ligand (LGND) Breakout!

LGND 189.55

+3.5%

Dec 12 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: WTDEC who wrote (19573)	4/25/1998 10:58:00 AM
From: Andreas Helke	Read Replies (1) of 32384

As a long term investment being short the shares and long the warrants does not make any sense. You loose time premium and don't profit from price movements. Such a position would only make sense to avoid the huge spread and low liquidity of the warrants for short term trading. I don't think that Farallon is interested in any of those alternatives. I think that they are either waiting for a big institutional buyer that would buy the warrants from them or otherwise consider the Ligand Warrants as a good enough long term investment to hold them until they expire even if biotech investing is not the main business of Farallon. It is of course possible that Farallon still has a Ligand short position as a result of the original arbitrage play. They can't change their position as easily as a small investor because big buying or selling would move the price in unfavorable directions. Andreas

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next