Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: david james who wrote (18279)	7/9/1999 10:35:00 PM
From: BDR	Read Replies (1) of 18691

<<I am not sure what you mean by this. I am sure you are aware that a convertible holder wants the lowest price possible for conversion. The lower the price the more shares they get.>> Assuming they want to end up holding the shares. The debenture conversion is capped at $6. I thought that they might prefer to short the stock at the then current price, say $7, and convert at $6 for a quick one dollar profit. Lower than $6, so much the better. I have never engaged in the discount convertible game so I don't know how they would actually prefer to play it. "The debenture may be converted by Roseworth or any other holder of the debenture into shares of our common stock at a conversion price per share equal to the lower of 95% of the market price (as defined below) of our common stock or $6.00." <<But if you think its a good short, then go for it.>> Always willing to learn and adjust positions according to the available information. Thanks.

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