Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Mark Ivan who wrote (865)	8/24/1999 8:42:00 AM
From: surelock	Read Replies (2) of 1438

Mark, > If they made all their money by shorting the stock to death, then the 2MM shares (or a large chunk) they received would have to be used to cover their short position. Thus, how big of a shareholder could they be?? They only need to break even on their short to make this scheme work. Don't forget, they have all the proceeds of their shorts. They use those proceeds to buy back their shorts, at the same average cost if possible, end up flat on their trading, and holding a large cheap block of stock. Thanks to their own buying, the stock recovers to $2.00, so TK is now up 10 times their money, becomes a promoter of the stock, and unloads. Don't think it doesn't happen.

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