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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (10002)	2/17/2000 10:44:00 PM
From: Madharry	Read Replies (1) \| Respond to of 78659

I purchased a biotech stock 4 years ago for $18 which was just about its high. It kept dropping and dropping eventually reaching a bottom of $2.50 where upon it issued a secondary. At various times I resisted the temptation to purchase more shares as the company continued to burn cash, had no partners, and no means of bringing the products to markets. This has been the case through today but the stock has surged all the way back and hit $19 today. I am lost in the biotech area. How can so many companies be worth 5-10 times in six months. What have I missed here?