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Article: ImClone Systems, whose shares Martha Stewart ditched, now flying high.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 16, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Josh Goldstein, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Jul. 16--She should have held.
Two-and-a-half years after Martha Stewart sold her stake in ImClone Systems Inc., netting a profit of nearly $167,000 just before the stock's plunge, the company and its shares have come roaring back. ImClone's lead compound is poised to become a blockbuster in the fight against colon cancer.
The decision to sell has got to be doubly painful for the home-and-garden diva.
Had Stewart held on to her 3,928 shares, the value of her holdings would have grown by $85,000, based on the stock's recent surge. And Stewart, 62, ...