BioCentury
ARTICLE | Finance

Wallflower

December 9, 1996 8:00 AM UTC

Momentum (read:fickle) and growth oriented funds that played a big part in driving up the market in the first quarter have had their heads in the sand of late. "They got spooked when their investments took a dive," during the summer sell-off, said Mitch Silber, partner at The Carson Group. "After Labor Day, when there was a resurgence, institutions with a momentum or growth focus for the most part didn't participate."

EASED-IN: EASDAQ is up and running, trading the securities of four European high-tech companies. The quartet includes Innogenetics,a Belgian biotech company that raised nearly $80 million on the exchange (see below). In addition to INNX, the EASDAQ pioneers include Dr. Solomon's Group, a U.K. developer of software protection tools; Artwork Systems, a Belgian software company; and Activgard, a French developer of identification cards for personal computer users...