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Technology Stocks : Intermedia Communications ICIX
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To: Jim Willie CB who wrote (203)8/19/1999 2:15:00 AM
From: RockyBalboa  Read Replies (4) of 313
 
It may be cheap now, and at $21 recently it was cheap enough that I covered part of my short position.

I have shorted in the minute the first DIGX bids appeared, at 30.5 Within 4 days ICIX lost $9. Well, the market has been weak that time, but 10 Million ICIX short (50% of the float), a disappointing DIGX opening and the known backdoor effect made it a safe short.

Again, they created 2 classes of DIGX stock (like DLIA/TURF) and that makes the valuation even more complicated.

In fact the mother ICIX trades at a discount to DIGX itself but when you look at UBID/MALL last year then you see that discounts may be well over 50%. Liquidity and tax reasons give rise to to that.
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