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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (292)	8/1/2001 11:35:45 AM
From: tuck	Read Replies (1) \| Respond to of 1005

Thanks to Mark Bong for this pointer to a Washington Post article from which this nugget comes (emphasis mine): >>In addition, the SEC found that analysts often issue "booster-shot" research reports, confirming a bullish stance on a company, within a week of the end of the lockup period. After a company's lockup period ends, insiders and bankers are allowed to sell stock in the company. Unger said the rating "may generate buying interest in the stock and help increase the stock price while the firm, the firm's clients or the analysts sell their shares." Ronald Glantz, former director of research at Paine Webber Group Inc., testified that analysts were faced with more conflicts as the source of their pay shifted from trading commissions to investment banking profits. In 1997 a major investment banking firm offered him triple his take-home pay, then asked how quickly he could issue "buy" recommendations on a list of 15 banking clients.<< snip Message 16154627 Cheers, Tuck