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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: I. N. Vester who wrote (15966)11/11/1999 7:56:00 PM
From: kolo55  Read Replies (3) of 27311
 
Great post... and I think your analysis is on the mark.

It is really clear now, more than ever, that we were fighting a well organized selling coalition, intent on driving our stock to 3 and below. Given the way they capped the buying today, these guys were probably going to pound us after the conference call today... Thank God, we had the PO announcement.

I must admit I underestimated the firepower that these guys would bring to bear on Valence stock. It is clearly more than CC alone could bring down on our thinly traded stock. The other short bandits have brought a huge amount of firepower with them, and it is now clear that about half of the short interest of 2.8 million last month was NOT Castle Creek, but rather other shorts.

I feel sorry for companies that have had to weather these kinds of attacks without the deep pocket shareholders and insiders to support the stock price. Whew, these guys are tough.

I think we will do well in our investment as more POs are announced in the weeks and months ahead.

Paul
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