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Biotech / Medical : Imclone systems (IMCL)
IMCL 0.1590.0%Oct 5 5:00 PM EST
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To: CPAMarty who wrote (189)1/10/1999 2:29:00 PM
From: 5,17,37,5,101,...  Read Replies (1) of 2515
 
It may be sales by those selling stockholders described in Nov98 shelf registration of 1.7million shares. I doubt if insiders sold; I hope not. I keep an eye on the yahoo insider list. The shelf would account for selling pressure, temporary because the dilution of those warrants probably was factored into share price long ago when they were issued. The shareholders probably had wind of the Merck deal and planned to sell on the good news. I do remember that day. The stock was up nicely on moderate volume, then wham! an hour later it was down a half on 500thousand shares. When the selling shareholders are finished selling, the stock should move up smartly; if we see another day like that though I'll be a bit worried.

Jackson
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