Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : ARRIS - Another partner -- Ignore unavailable to you. Want to Upgrade?

To: David Bogdanoff who wrote (347)	1/9/1998 12:30:00 AM
From: John Metcalf	Read Replies (1) \| Respond to of 353

David, Arris indicated that the merger should be completed this week. In that event, will those who bought SQNA to cover ARRS short positions be able to do so on Friday? If so, or even if this can be done next week, the January short sales report should tell the tale of what happened. Viz., if short interest returns to 150k shares or so, we would know that the rise was due to arbitrage and not to discontent with the merger.

To: David Bogdanoff who wrote (347)	1/9/1998 9:54:00 AM
From: Biomaven	Read Replies (1) \| Respond to of 353

David, Well if the arbitrageurs unwind by buying Arris, they would also have to sell their SQNA. Either way, there is no net upward pressure on Arris stock by the short covering/unwinding. Personally I think the decline stemmed from a combination of disenchantment with the merger by a few large holders and the arbitrage pressure, with no offsetting buying. (With maybe some tax-selling thrown in). I'm happy with the fundamentals, and I think we'll see gains from here (if the overall biotech market holds up). I'm thinking of increasing my small holding. Peter