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Technology Stocks : Electronics Boutique (ELBO)
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To: Night Writer who wrote (463)8/9/1999 12:42:00 AM
From: ratherbelong   of 779
 
NW,
If ELBO does push up to $20 plus pre-earnings announcement...we could also get some added benefit from a short squeeze. My research indicates their are 157,000 shares short as of July 8, 1999. Now for most stocks this amount would be meaningless but since the total float on ELBO is only 4.4M shares, it is something to consider. If only half of the shorts bought the stock to cover their position this would represent almost one days average selling volume. I think a lot of the short interest came in at the $16/$17 range and so their already under water. I guess it will depend on were they set their stop losses. No biggy...but I thought it was worth mentioning. And you are right...next week will be very interesting.
My best to you, and good luck with the stone wall.
RBL
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