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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: add who wrote (13742)8/15/1999 4:15:00 PM
From: I. N. Vester  Read Replies (1) of 27311
 
I wonder what CC will do if we go back above $6.
I think we could get back above $6 if we get any
confirmation that the rumors of insider buying
turn out to be true.

In that case, CC would have a few days to convert
at about a 10% premium to the $6 fixed price (based
on 6 days at an average closing price of about $.5
which will be established after another 2 days at
this price).

Who can tell what they will do. Maybe they will chose
to hold on hoping to get a lower conversion price, or
because they want to hold for the additional 1.5 years
it would take them to earn 10% interest, or simply to
preserve downside protection. A sure 10% gain might be
hard to pass up, though.

If the price does go back above $6, and they do convert
to capture the extra 10%, I wonder what the rest of the
short interest will do.
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