Word: stocke
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Dates: during 1990-1999
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...whole different environment at Chrysler," said Buzz Hargrove, president of the Canadian Auto Workers. Ultimately it will be up to I.G. Metall, the union that represents German autoworkers, whether the Americans and Canadians get seats on the board. Pending that, most workers seemed pleased. "I just hope my stock goes up and I can buy a Mercedes with my Chrysler discount," laughed an employee from Chrysler's Jefferson North assembly plant, on Detroit's gritty east side...
...matter of hours patients had jammed their doctors' phone lines begging for a chance to test the miracle cancer cure. Investors scrambled to buy a piece of the action, turning the shares of a little company called EntreMed into the most volatile stock on Wall Street. Cancer scientists raced to the phones and fax lines to make sure everyone knew about their research too, generating a new round of headlines and perpetuating the second major medical media frenzy in as many weeks. It was Viagra all over again, without the jokes...
Most people thought they were hearing about a new breakthrough. In fact, Folkman's work on angiostatin and endostatin had been reported months before in scientific journals and just a few weeks ago in Business Week. A November article in Nature briefly boosted EntreMed's stock 28%, to $15.25 per share. But of course that was nothing compared with last week, when the stock rocketed past $80 before eventually dropping to $33.25 at Friday's close...
Last week's cascade of stories about drugs that can knock out cancer in mice sent patient hopes (and stock prices) soaring. But it also presented the type of challenge that is particularly important in covering potential medical breakthroughs, especially ones in which "cure" and "cancer" appear in the same sentence. "We were seeing a disturbing disconnect between the headlines and the actual science," says science editor Philip Elmer-DeWitt, whose staff was already reporting a cover on cancer. "We thought we could separate the hope from the hype with some expert explaining...
When all is said and done, there may have been more losers than winners in last week's bizarre "rally" in the shares of the cancer-drug firm EntreMed. The stock began the week at $12 and ended at $33 1/4, a tidy 177% runup. But in the process, the company's 12 million shares outstanding changed hands an average of four times each--at prices up to $85. Sure, anyone who bought the stock more than a week ago received a windfall. But, in theory, there are three times as many people who got creamed. Cancer could well...