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Biotech / Medical : Ligand (LGND) Breakout!
LGND 198.02-1.4%Jan 26 3:59 PM EST
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To: CYBERKEN who wrote (24248)8/8/1998 11:29:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
Actually, right after LGNDA converted to LGND the price fell from 9 to 5 1/2. It was the bottom of the Biotech bear market and some would have lost money if the sold at that ridiculously low level. The cheap price did attract the interest of Jim McCamant and Michael Murphy, and they both added LGND to their model portfolios. That was quickly followed by David Molowa of Bear Stearns initiating coverage. Within several weeks, LGND was back into double digits and since the they have only briefly dipped into single digits.
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