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Technology Stocks : Creative Computers(MALL)
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To: Rajiv who wrote (1453)6/9/1999 12:22:00 AM
From: David Wise  Read Replies (1) of 1634
 
Warning about being short UBID - Waterhouse informs me that my UBID shares won't show up until Friday. If this is true for all brokerages, we'll see a lot of short covering on Friday by everyone who shorted in anticipation of receiving shares June 8. Waterhouse informs me there are no shares for shorting today. Sounds like most of the short selling is over (both because people sold short to lock in a price before distribution and because shares are no longer available).

I guess the only question is whether the buying to cover will outweigh the selling of new issue. Since a number of new UBID holders will not be selling, my bet is that Friday will be a good day for UBID holders, as shorts fight each other to begin covering.

As for MALL, I think they made it clear that eCost is heading for spinoff. That could propel MALL back over $30. Or an IPO of MacMall or PCMAll or Computability. But their recent comment about eCost being set up with their own management and records "like UBID" made their intentions crystal clear.

One more quarter of UBID growing at 1500% year over year and UBID could skyrocket back up. I don't think they'll see $187 again for awhile, but $50's could be within a year (IF THIS GROWTH RATE CONTINUES). The other fire under UBID could be their ability to manage their own affairs without limitations placed by MALL and financial prior agreements. They can now seek other investors and clients. Regardless, the UBID and MALL combination was a steal at last weeks prices for MALL.
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