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Biotech / Medical : Guilford (GLFD) - Steadily Rising
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To: LLCF who wrote (269)3/18/1999 1:09:00 AM
From: Steve  Read Replies (2) of 496
 
The seller was Scios, Inc., a founding shareholder. It unloaded approximately 1.4 million shares. It needed the money for its own operations.

Anyways, it will be interesting to see if the stock holds at $10 since that is the price Scios sold at. One would expect that a size of stock that big would bring in a blockage discount to that block only. If it doesn't hold then who knows where this stock ends up. I am wondering if Wall Street is punishing the stock since most of GLFD's research programs are taking a while to produce anything that Wall Street likes. Also, the Street may be trying to push the stock down to make it attractive to a takeover since people are sick of the delays--sort of force the company's hand.

In any event, I refuse to believe the stock reflects the true value of the company. I hope I am right.
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