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Technology Stocks : Gemstar Intl (GMST)

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To: Paul Merriwether who wrote (516)10/5/1999 2:40:00 PM
From: Zirdu  Read Replies (1) of 6516
 
You're right that smaller volume on TVGIA than GMST is evidence against the theory that TVGIA holders selling is what is driving the price change. But I suppose TVGIA holders could be selling GMST short, and holding their TVGIA, thereby locking in a better gain than they could get by selling TVGIA outright.

It is interesting, by the way, that prior to this deal, GMST had a relatively low short interest, for such a "high flyer" type stock. viwes.com Usually a stock that has appreciated in price as much as GMST has in the past year or so attracts more short sellers than GMST did.
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