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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 227.35+0.3%Dec 19 9:30 AM EST

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To: Michael Young who wrote (71656)8/3/1999 9:56:00 PM
From: Jan Crawley  Read Replies (1) of 164684
 
Instead they want to get paid the interest and short the stock. It is a sweet play.

We were discussing the issue of "how many of the current 15.3M short shares are possible bond-hedged shorts, and you think that the bond-hedged short shares are significant and those shares should be discounted from the current short interest coz the bondholders are in no hurry to cover".

What I am saying: "those bonds were issued during 2/99, and hedging via shorting shares were done while Amzn was far above $156. If the bond holders shorted Amzn around $180; they will be very tempted to cover now under $100. The shorting can be independent of the bond ownership."
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