Anyone knows what is the news with ARXT? I have a big short position. Damn it. I didn't know trading halt was coming.
Soros sells entire stake 3 days before the news hits. DJ Soros Fund Sells 1.7M Shr Stake In Adams Respiratory - Report -------------------------------------------------------------------------------- Thu Mar 15 04:48:43 2007 EDT NEW YORK (Dow Jones)--Two days ago a fund controlled by billionaire financier George Soros and his associates sold its entire 1.7 million share stake in Adams Respiratory Therapeutics (ARXT), the specialty pharmaceutical company and maker of the cold and flu medicine Mucinex, for about $44 million, The New York Post reported in its Thursday editions. The fund, Perseus-Soros Biopharmaceutical Fund, was one of the company's largest and longest investors, the paper added. A spokeswoman for Adams said Soros was an original venture-capital backer of the company and has been steadily divesting his stake since the company went public in 2005, adding that that is part of the normal investing cycle of any venture-capital fund. Newsapaper Web Site: http://www.nypost.com (END) Dow Jones Newswires 03-15-07 0448ET Copyright (c) 2007 Dow Jones & Company, Inc. 04:48 031507
wow fascinating stuff. That Soros gets a bad rap for being on the wrong side of a few dollar swings-- looks pretty damn smart to me!