Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 199.20

+0.1%

Nov 21 3:59 PM EST

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To: celeryroot.com who wrote (24161)	8/7/1998 10:16:00 PM
From: jayhawk969	Read Replies (2) of 32384

Celeryroot, This kind of action makes one wonder what is really happening. The fundamentals of LGND have not changed. Lgnd shares deserved to go down with the market and the biotech catastrophe. However when one sees Ligand drop precipitously on low volume and then trade in a narrow range on high volume, one starts to wonder. I am the first to admit that I do not thoroughly understand the entire trading mechanism, however, if anyone has any insight into what is happening beyond what Celeryroot is posting please speak up. Anyone with Level II screens that differentiate the market maker bid/asks/trades? Did someone offer to buy a large number of share but only at 10 or below? Did the MM's then take the price down? Possibly with the assistance of Allergan shares to drive it lower on low volume? If so why not a private sale? Maybe it would not stand market scrutiny? I am truly perplexed? J.D.

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