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

To: Andrew H who wrote (11808)	11/27/1997 2:02:00 AM
From: Night Trader	Read Replies (2) \| Respond to of 32384

I've discovered the following link. Apologies if it's been pointed out before on this thread: westergaard.com:8080/Med/Ask/sell9743.html It looks pretty prescient now, yes? My own view is that in the current uncertainty ( Asia , high valuations, potential inflation) investors will continue to gravitate towards established " quality " companies and away from speculative small caps such as Ligand. It isn't just seasonal factors that have caused such a heavy decline as some here have claimed. Go to the Graphs window and try ATIS AGPH VVUS CYTO LGND all at once - the slide over the last 30 days is remorseless with no sign of a bottom. The trouble with these stocks is that there's no floor to bounce off, no dividend or low PE or high growth rate. Only hope and hot air. For the record I'm long about 4500 shares of lgnd at around 12.

To: Andrew H who wrote (11808)	11/27/1997 9:16:00 AM
From: Arthur Radley	Respond to of 32384

Andy, It would be my guess that the new stock is available for the ALRI shareholders. Technically, their old shares are not valid anymore, and it would be unconscionable for these investors to have their asset tied-up in limbo. As with stock-splits, there is a date of record and therefore it takes a few days for the new shares to be distributed but as you probably know the stocks are traded on a "when issued" basis and in the daily stock tables(WSJ) the shares are labeled with a "wi" label. My position on this is entirely based on the fact that this deal is done. There seems to be some question on the board as to whether or not this is the case. I think it is. NO RAIN AS OF Yet, in my part of Texas.(:>)