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

To: Henry Niman who wrote (12303)	12/8/1997 7:42:00 PM
From: celeryroot.com	Read Replies (2) \| Respond to of 32384

Henry, I think the 13D covered two things: Current Beneficial ownership (aprox 3.4, according to Farallon) Allergan , they had shorted the anticipated Lgnd shares they would receive, and covered when they received as stated in the 13D If the rest of their shorts are under the old tax laws, there would be no reason to exercise and cover(as they say turn over to a third party) I didn't add up but where did you get the number covered , it didn't look like that many to me Andy, the number of shares short is not what is keeping the price down.The act of shorting can drop the price. In fact , sometimes a large short position in a stock can be good.