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Biotech / Medical : Biotech vs. Shorts -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (386)	3/9/2000 12:33:00 PM
From: Biomaven	Read Replies (3) \| Respond to of 427

Biomatrix (BXM) is an interesting situation. There's a huge short position (some 4.6 million shares at last count), and now we have the merger under the GENZ umbrella. Because there is a big cash component to the deal (up to 1/3 of shares at $37), my guess is that the shorts will mostly cover before the deal goes through, or else they will have to pony up the cash themselves. Stock seems to be stuck around $30 1/2 for now - looks to me like a comparatively low-risk speculation at these levels. Peter