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

To: bluejeans who wrote (20588)	5/12/1998 10:13:00 AM
From: tonyt	Respond to of 32384

>probably because they are getting LGND stock Actually, yes.

To: bluejeans who wrote (20588)	5/12/1998 10:24:00 AM
From: Henry Niman	Respond to of 32384

bluejeans, It does look like a liquidation. The stock is clearly in the "penny" range and although an 8% gain looks good, the spread ($0.02) is half of that gain. The price did open at $0.60 which was a significant move, but most of that gain did not hold. Shareholders will be rewarded if ONTAK is approved. If not, most will have very big losses. Although SRGN volume was about 200K after 1/2 hour (and volume is no longer increasing at today's initial rate), that represents only about $100,000 (and that amount is split between buyers and sellers). I think that SRGN just became too overextended and simply ran out of money.