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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Torben Noerup Nielsen who wrote (29493)	11/27/1999 5:04:00 PM
From: Arthur Radley	Respond to of 32384

Torben, A good example of shorting the stock prior to conversion of warrants can be seen with TTP(another biotech). Go back and look at the trading pattern after they announced the warrant conversion(dropped like a rock)...and now since the conversion is over, look at the trading pattern in the common(hit a new high yesterday). By shorting the stock, they "shake the tree" and get unsuspecting investors to turn loose their warrants, knowing full well that they will get the common shares on the cheap with the discounted warrants.

To: Torben Noerup Nielsen who wrote (29493)	11/27/1999 6:37:00 PM
From: celeryroot.com	Respond to of 32384

if short at 10 1/8 buy warrants at 3.5 exercise nice deal

To: Torben Noerup Nielsen who wrote (29493)	11/27/1999 8:27:00 PM
From: D.Lu	Read Replies (2) \| Respond to of 32384

Came to the same conclusion. The warrents sat still while the common climbed and then played catch up later on. The volume on both leads me to believe that there is a buyer in a hurry to accumulate, perhaps ahead of news soon to come. From another perspective, LGND's price is embarassingly low compared to some other biotechs that formerly tended to track together- ie ISIP VCAL. Yes Texas, an orchestrated shakeout of the warrent holders may contribute as well. I'm ready to believe most anything. May the best come to be. This stock is long overdue for a runup IMO.