IRID - Iridium World Communications IPO Announced! Message Board

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Technology Stocks : IRID - Iridium World Communications IPO Announced!

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To: CMon who wrote (2207)	7/27/1999 12:49:00 PM
From: Marty Rubin	Read Replies (1) of 2693

if anyone is confused it's.... Short covering may result from a short squeeze. But when the interest is up 63%, non of the two can be attributed to the $16 rise. Just like any other stock, things were improving and people were pushing it like any other momo stock. The players were short and long just like any other stock. But to say it's short covering is just an excuse. Because if it's right, little news will push it to $40 instead of $16 (due to increase in shorts), which we'll both agree it's not realistic in the coming month (option expiration). IRID (bid-ask): 6 1/8-1/4.

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