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DewDiligence

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DewDiligence

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Re: DewDiligence post# 168118

Thursday, 10/17/2013 8:41:11 AM

Thursday, October 17, 2013 8:41:11 AM

Post# of 257263
PTLA prices offering @$23.75, a 7% discount to yesterday’s close; pumping the price with a fluff PR a few days ago (#msg-92994766) probably averted an even bigger discount:

http://finance.yahoo.com/news/portola-announces-pricing-public-offering-123240890.html

Portola is offering 4,457,710 shares of common stock, and certain existing stockholders of Portola are offering 1,908,803 shares of common stock.

The selling stockholders (i.e. insiders) evidently don’t think the share price can withstand their sales in the open market, so they are selling concurrently with PTLA’s offering. Lame.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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