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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Larry Brubaker who wrote (13315)7/23/1999 10:22:00 AM
From: Rich Wolf  Read Replies (2) of 27311
 
Larry, SCUR's stock price was at its peak of 29 when the short interest was maximum. If the short covering took place since then, then it is not any selling action by CC that caused the price to fall.

Further, the increase in the short position in the 6 months prior to that occurred when the price increased to its maximum of 29.

I note insider selling in March before the stock took a sharp dive from the low-teens to 4.

I restate: there is no evidence that any action by CC caused the decline in the price from 29 to 12 from mid-Jan to March, or the drop from 12 to 4 at that time. There was a reduction in short interest.

I would posit that further DD is likely to uncover a reason for the shareprice dropping that is related to SCURs business, and not stock manipulation.

Regards, Rich
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