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Biotech / Medical : EntreMed (ENMD) -- Ignore unavailable to you. Want to Upgrade?

To: tdl4138 who wrote (1115)	5/28/1998 6:32:00 PM
From: David Winkler	Respond to of 2135

You guys want this stock to go down so bad you can taste it. I don't have a clue why anyone would want a split, but a secondary offering that generates working capital is one way to generate the $$$ to bring a product to market. If it works doubling the float wont make much of a difference, and is inevitable, considering the money needed for product development. If it doesn't work it won't matter much either since the value of the investment will approach zero. In the short run a large secondary would put some downward pressure on the stock, but not to the low 20's. That will take some bad news, or no good news for a long while.

To: tdl4138 who wrote (1115)	5/29/1998 8:33:00 AM
From: Dr. J	Read Replies (1) \| Respond to of 2135

I could see your argument if we were trading on very thin volume, but volume has been reasonable. There are real buyers and sellers out there - but my Level II shows large offer blocks and small bid blocks which indicates (to me) MM and institutional selling and individual buying. I agree that it is surprising that such a volume imbalance hasn't forced the price down more. I suggest everybody look at the trend since the jump. It's inexorably downward. Maybe you'll see $10, maybe $20. The consensus on this board seems to be "there's no reason for the stock to go up again". The argument seems to be about how far down it can go. THat doesn't sound like a stock I want to own right now (and I don't).