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

To: N who wrote (23970)	8/5/1998 7:54:00 AM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Actually, the timing of Bill Gates' buy and sell is a very good indicator. Because he bought so much, he had to file on when he bought, and Ligand knows when he sold.

To: N who wrote (23970)	8/5/1998 8:17:00 AM
From: tonyt	Read Replies (1) \| Respond to of 32384

I find it interesting that the 'sale' was not mentioned until Cheryl pointed it out. And it was sold 6 years ago. How was this even relevant?

To: N who wrote (23970)	8/5/1998 8:57:00 AM
From: Henry Niman	Respond to of 32384

Nancy, Seems that some missed my original point about big boys and long term investments: Message 5409730 Most would put Bill Gates into the "big boy" category. Just after LGND's IPO came out he bought 600,000 shares (Nov 1992) for $7.5 million. He sold two years later in Nov 1994. Big boys generally buy into LGND as long term investments. It's hard for them to get in and out so they don't trade the stock. On the other hand, the stock is relatively liquid for retail and ever since LGND bought GLYC, the spread has been much narrower and it's easy to trade the stock. A while ago our famous naysayer suggested shorting LGND at the open and covering at the close. A strategy that worked poorly even when LGND gapped higher at the open and closed lower at the close. Retailers could try this strategy, but big boys would have a great deal of difficulty. FUGAZI had indicated that retail was in LGND for the long term, while big boys were trading: Message 5409569 and I don't believe that there is ANY evidence for such a statement. About the only time that a stock like LGND can be traded by them (over a short term) is on an IPO or secondary, when they get to buy below market. Such flipping worked well for the LGNDA IPO (over 3 million shares traded on its first day as the $11 IPO opened at $13), but really didn't work well on the follow on offering ($14 stock was sold for $12, but price was close to $12 just after new stock was issued).