Biotech Values

[jbog]

Johnbits,

UBS and the other two outfits still would have had 2 more weeks to exercise, so they could have bought them this morning at the mid $13 price and sold them right away. They also could have bought them and sold them to their clients as normal transactions evolve.

The only problem would be if they had a naked short (not covered short) position, they would have to use those shares to cover that position 1st before they could do anything else with the shares.

That's the only conclusion I can come up with.