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Biotech / Medical : Immunomedics (IMMU)
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To: Ted Moeller who wrote (79)1/5/1997 4:41:00 PM
From: Joseph Lapsansky   of 371
 
Ted,
As you can see since you posted, the stock is getting back some strength. Once a stock that has been at much higher levels reaches the month of October, tax-loss selling starts. IMMU has much potential but people don't like to wait around for that potential when they see the Zitels (ZITL) of the world going up five and six points a day. In my opinion, people were waiting to see if the NDA for Leukoscan would make the stock pop. When it didn't, investors who had a loss for the year decided to get rid of the stock in the last 2-3 days. I'm sure they thought that they could get in at around the same price in 30 days; I, however, think that the stock has a shot at 7+ when all the biotech conferences start (H&Q starts on Monday?), whether IMMU is presenting or not. Again, this is just my opinion. Joe Lapsansky
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