Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.33

-1.0%

3:59 PM EST

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To: marginmike who wrote (32568)	6/18/1999 12:47:00 AM
From: Jon Koplik	Read Replies (1) of 152472

Off topic - our "patriotic" duty to help run Iridium stock into the ground. Since the stock can no longer be borrowed easily to be sold short (by mere mortals like us, anyway), I checked some options. Iridium July 7 1/2 calls closed around 1 3/8 bid. I don't think I can resist selling at least a few of these naked short tomorrow morning. I suspect IRID's share price is as high as it is because of the usual pre-reorganization "failure to grasp the situation" -- situation among retail investors buying IRID. If they want to take a shot on Iridium -- they should buy Iridium bonds, which will most probably turn into shares of IRID common stock and or warrants at some point, NOT buy the common stock. But, Wall Street makes it so incredibly difficult for small investors to buy most corporate bonds, that I can understand people just hoping the common stock is not TOO overpriced, and just buying it. The problem, of course, being -- the stock is probably way out of whack with the bonds in a potential reorganization ... Jon.

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