Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: double-plus-good who wrote (2158)	6/14/2001 7:33:19 AM
From: XBrit	of 6873

Thank you for pointing out the IDN rights issue. Yes, it seems possible that the company is deliberately driving up its own price to encourage people to exercise their rights issues. At 10.5 the rights issue becomes "use it or lose it", because the company in effect gets to take it back from the stockholders. I'm pretty sure they DON'T want to take the rights back, but they probably DO want to pressure the stockholders to exercise. The cash raised by a high exercise rate on the rights could be a few million, or maybe 50c-70c/share. Looking at their cash position, they could probably use the money. Yep, makes sense. So the pump will stop somewhere around 10.5.

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