Word: stocke
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Dates: during 1990-1999
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...blockade is costing the cash-strapped country millions of dollars a day, the strong public sympathy for the strikers appears to preclude the use of force. ?We?re seeing nationwide gut-level frustration at years and years of promises,? says Quinn-Judge. ?But the government has no money.? The stock exchange is tumbling and no economic growth is expected this year. One possible boom sector: the nostalgia-for-communism industry...
...episode is typical of how individuals can get burned when they rush into a stock on a hunch, rumor, hope or partial information. With EntreMed, many placed buy orders for last Monday morning "at the market," with no inkling that the market price had swelled sevenfold without a posted trade. The pros knew. They saw the backlog of buy orders that had built up over the weekend...
Another information edge the pros enjoy is "real-time" stock quotes. You may not know it, but the NASDAQ quotes you get from CNBC, and quotes on most free Websites, are delayed 15 min. That delay can kill you when a stock is falling a point every 60 sec. And, let's be frank, a story in the New York Times or TIME can't take the place of in-depth analysis, although journalists can add valuable information...
That said, there are reasons to invest in the wonder-drug business. A potential huge payoff certainly is one. Last July, MedImmune's infant-pneumonia drug, Synagis, passed a significant clinical hurdle, and the stock shot from $15 to $55. More fundamentally, though, biotech stocks as a group have been woeful laggards for three years, and may represent the broadest base of value in today's sky-high stock market...
This new-product cycle has a number of pros bullish on the sector. Sensing opportunity, New York investor Stuart Wiesbrod founded Merlin Biomed, a private health-care fund, just three months ago. He estimates that the entire biotech industry has a stock-market value of about $110 billion. That's less than the market value of one big drug company like Merck or Pfizer, each with market values around $140 billion. Yet the biotech industry has 600 drugs in advanced development, vs. maybe 20 for each big drug company...