Elan sell-off continues as positive drug trial results boost share prices

ROLL up, roll up, the great Elan sell-off continues and the more the company sells off the higher its share price goes.

Long-term Elan shareholders, now used to magical mystery tours along the high and lows of the share price bar chart, have ended yet another week in a twirl as the shares first rose and then slid again.

However, the underlying trend is positive. A year ago, on Friday, January 24, Elan shares closed at €3.44, a long way from the heady days of 2001 when the shares hit €65 but came crashing down as a result of a post-Enron accountancy problem. Yesterday, shares closed at €6.95, down 3.47% on the day, but well up on the year low of €2.05.