Wachovia is a market maker in Vertex stock. They are thus able to 'naked short' and they generally profit more as a market maker when trading volume is higher. Since, the Wachovia analyst made his recent comments roughly two months after AASLD, one can reasonably wonder wheter he has any real new news on which to base his comments, or he just feels an incentive to help Wachovia profit a little in the face of their mammoth sub-prime losses.