Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.675

-0.9%

Dec 12 3:59 PM EST

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To: Clay Takaya who wrote (10627)	10/25/1999 10:23:00 AM
From: GVTucker	Read Replies (1) of 21876

Clay, RE: What we are concerned with is the recent drop in LU's share price. In this case, it seems to me that the recent ratio of short selling vs. purchases would be much more applicable to the situation. Maybe you can comment on this. When adjusted for the split earlier this year, LU's short interest isn't appreciably different than it was a year ago, or two years ago. There was significant short interest in the late spring and early summer, but that as related to arb action in the ASND takeover. When that deal closed, short interest immediately dropped more than half, and has been around the same level since. The first short interest report after the ASND deal closed showed short interest of 47.2mm shares. The most recent data from last week showed short interest of 48.7mm shares. Not much difference. The recent drop in LU price is most probably much more closely related to mutual fund selling. There's a heck of a lot more LU shares held long by mutual funds than there are shares held short.

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