Replies to post #89400 on Biotech Values

[mcbio]

Re: ACHN short interest

Did you notice that the short interest in ACHN increased over ten-fold in the two week period 12/15/09 to 12/31/09?

There are still only about 4% of shares short as of 12/31/09 according to Yahoo. That's not much at all. But, I guess you're implying that the spike is possible evidence that someone knew of, and acted upon, the forthcoming offering. I don't normally pay much attention to short interest ratios or spikes in them, but perhaps that's something to consider in the future.

[gym gravity]

It's to be expected when you get giant volume days inside the parameter of "average daily volume". The days to cover is still within 1-3 and that is based on average daily volume too. If the average daily volume falls to a more reasonable 200K per day the 795K shorts will take longer to cover without a pop.

I own no ACHN but I think they are waiting for the gap to close, and it should, soon.