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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (2099)	2/19/1999 6:02:00 PM
From: Q.	Read Replies (1) \| Respond to of 2506

HEB, the biopharmaceutical development stage co that is one of the Asensio targets, just put out a curious news release saying that they will buy back 200 k shares. The reason I find this funny is that in July HEB sold 750 k shares to Value Management Research (its German stock promoter) for $3 per share. The stock is now trading at 5 1/4. So the company sells something at $3 and then buys it back at $5. That's really smart. Too bad that trading in one's own stock doesn't appear on the p&l statement, because this would otherwise have a bad effect on the earnings. On the other hand, the number of shares involved is pretty small ... just two days of volume.