Zonagen (zona) - good buy? Message Board

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Biotech / Medical : Zonagen (zona) - good buy?

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To: Bruce Rosen who wrote (6442)	4/29/1999 4:50:00 AM
From: Linda Kaplan	Read Replies (1) of 7041

Bruce: I think your estimate is way off on the downside. There'd be nothing holding the stock up if the FDA refuses to approve. You think it'd go from 25 to 10. I think it'd go from 25 to 2. Honestly, the company would be viewed as worthless, which is pretty much what I think of it, as you know. On the upside with approval, I agree it could go to 40. But I've had stocks go higher in anticipation of approval than they went on approval, so I'm not sure. I am sure I'd be thrilled to short more at 40 or higher. It'd be a great opportunity, IMO. I lightened up during the time the stock went down to 12 some months ago and meant to increase my short position again but couldn't get shares when I had the funds. Staying short a long time is, to my mind, a similar investment to staying long for a long time. If you have faith in your opinion of where the company is going, it can be worth waiting for. What's your own strategy? You've been long a long time. Are you profitable now? Under what circumstances will you sell? What will you do if not approved and what will you do if approved? Linda

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