QIAGEN (QGENF) - Star of Germany's Biotechs Message Board

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Biotech / Medical : QIAGEN (QGENF) - Star of Germany's Biotechs

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To: Michael Ohlendorf who wrote ()	11/20/1996 4:05:00 PM
From: (no name provided)	of 122

Michael, I have a short position in QGENF, so I am very biased. However, look at QGENF fundamentals. They are trading at nearly 100 times last years earnings and 10 times sales. This is a very expensive stock even considering a 50% growth rate. But what is worse is, since the IPO 12 million of QGENF's 16 million have been "locked up" for six months. That means that sometime in late December, the venture capitalists and insiders will be able to sell stock (subject to some volume restrictions). Now, if you had several million shares that you have been sitting on for years like the VC's do and you want to take a profit, what do you do? Sell it, of course. What happens when lots of stock is for sale? The price goes down. I won't advise you to sell, but I certainly wouldn't buy this stock now. By the way, I am not alone. The current short interest in QGENF is 400,000 shares and it is very difficult to borrow. Good luck.

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