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Genentech, Inc. |
Over the last 2 days, Genentech (DNA) has risen almost 8% ($7+), the
highest it's been since 11/19, having been under the shadow of the
rejected Roche buyout bid, the financing of which has nevertheless
remained a matter of ongoing speculation. That speculation has been
questioning whether Roche could even finance the deal if it were to
ever go through. On Thursday 12/18, DNA stock began to rise on no
apparent news, with commentary found today on another site that
states: "unsubstantiated market chatter that deal financing for the
previously announced $89 per share bid from Swiss drug maker, Roche
may be looking good". If the latter is true, wouldn't that be
considered to be insider information? If not, is there manipulation
going on? While I have owned Genentech stock for more than 10 years,
I will be glad to be done with it because I've seen this sort of
action too much. Once 09 rolls in, I will be glad to either cover my
short call on it and sell or let it be assigned. I'd rather be in
another strong biotech that does not seem to be as subject to apparent
manipulation.