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Technology Stocks : How high will Microsoft fly?
MSFT 491.95+0.2%3:59 PM EST

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To: Frederick Smart who wrote (29547)9/15/1999 5:49:00 PM
From: Michael Bakunin   of 74651
 
No friend either of Microsquash's technology or its business practices, I nevertheless think your view misstates a case that is bad enough without exaggeration. At June end, there were 160 million put warrants out (cf microsoft.com on a stock with 25 million shares traded daily and 5 billion outstanding. While the likely 160 million share hedge probably bolsters the stock price a bit, I don't think that alone maintains the dike. Include other factors, from merely sinister monopoly rents to the truly distressing tax deduction for options exercise, and you have a scary situation that doesn't necessitate conspiracy theories. -mb
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