SI
SI
discoversearch

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 181.46-2.4%Feb 12 3:59 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Mudcat who wrote (21531)5/28/1998 8:27:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
Mudcat, I suspect that many long term holders of LGND are also frustrated at LGND's price action and are ready to sell. In fact that is what I implied last night when I said that a major shakeout is in the works.

Today's high volume (with several 100K blocks going off at the ask) and little price movement comes as no surprise. I think that weak hands are ready to throw in the towel, which is what is required for a major rally.

Several months ago CNBC commented on individual investors. They were quite a heterogeneous group, but the one thing that the many individuals had in common was an inclination to sell at lows.

LGND has matured quite a bit since the LLY deal, but the sector has continued to disappoint, so the group has really underperformed lately. Many big boys are now ready to hop on board and many major brokerages are ready to initiate coverage. Both groups of course would like to act when LGND's price is low, as it is now.

I look for heavy volume to continue. Individuals may be squeezed a bit more, and Farallon may also help keep a lid on LGND's price. However, an approval rec next week on ONTAK should get the big boys stepping up to the plate. It began in earnest yesterday, and I expect it to continue big time next week.

I actually would like to see some of the moaners and groaners sell out soon. There are many waiting in the wings for such an event to happen.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News