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Biotech / Medical : QLT PhotoTherapeutics (QLTI)
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To: Garth Richmond who wrote (359)12/22/1998 11:54:00 AM
From: Ian@SI  Read Replies (1) of 1321
 
Garth,

Understood and agreed.

I do have to wonder why a brokerage would come out with a REDUCE rating at roughly the same time that the Wall Street Journal did a very positive article indicating that QLT is likely to have a $1B drug success on their hands.

It would seem to me that there are much better "short" candidates out there. In that same timeframe, ML was taking huge losses aping the same tactics that got Long-Term Capital Management into serious trouble.

I wouldn't be so cynical as to suspect that ML might have been trying to take candy from uninformed novices. ... or would I?

Ian.
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