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Biotech / Medical : HBOC...Buy in here? -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (186)	7/24/1998 12:52:00 PM
From: Chuzzlewit	Read Replies (3) \| Respond to of 341

Barbara, I couldn't disagree more. What we saw yesterday was the result of two clearly different effects, and arbitrage was so small as to be negligible. You simply don't lose almost 20% of market cap on a small acquisition like this one -- that defies logic. If every single share of INMT had been arbed we would have seen 11.6 million shares of HBOC shorted -- less than half of what was actually traded yesterday (24.6 million shares). Your theory would work if HBOC were a thinly traded issue. but it is not. I think that some major players (mutual funds?) are getting some signals they don't like. I will continue to hold until the picture crystallizes to some extent. My suspicion is that analysts may view the latest series of proposed acquisitions (both failed and successful) as evidence of slowing growth. TTFN, CTC