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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: kolo55 who wrote (15497)10/28/1999 11:54:00 AM
From: Bruce A. Thompson  Read Replies (1) of 27311
 
Paul,

RE: >> The short interest rose from 2.47 million shares to 2.83 million shares from September to October, a rise of over 300k shares, plus the market absorbed 690k shares from CC's partial conversion. <<

Actually, If CC shorted the 690K shares, then the "Market" does not have to "Absorb" the converted shares. All that happens is that CC returns the borrowed shares. No market transaction takes place and CC is free to short the next tranche.

BT
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