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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Zeev Hed who wrote (14725)9/21/1999 7:48:00 PM
From: kolo55  Read Replies (1) of 27311
 
Short report will show short interest before conversion.

CC converted on Monday September 13, apparently, so if they delivered the shares against an existing short position, the drop in the short position will not show up until next month.

Again, my guess is over 3.0 million short in this report, more than what is necessary to hedge all of CC's preferred and long shares. If the short position is much higher than 3.0 million, then we probably have a substantial naked short position out there.

Paul
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