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Technology Stocks : Loral Space & Communications
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To: Jeff Vayda who wrote (6678)8/19/1999 11:25:00 AM
From: Valueman  Read Replies (3) of 10852
 
Jeff:

As a "for instance", Alliance owns 28 million shares(recently reduced by 4.8 million through an option transaction). So, the selling could conceivably go on for a long time if someone like that is behind it(or Fidelity, or Capital Guardian, etc.). Remember that they did not get the blocks sold from 18 1/2 up to 19+. Those are still likely to return. If nobody surfaces as a buyer for these shares, they act as a cap. The stock goes down to find buyers at a lower level. It is happening today. When the ask pops up to 7/16, that 50K piece is not dented. So, back down we go. When all that overhang is gone, we likely go up.
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