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Biotech / Medical : Medical Industries Of America, MIOA
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To: Jones who wrote (88)4/14/1997 8:53:00 PM
From: insightful investor   of 570
 
Jones: I was surprised to see this arrangement after it seemed that the company had the short traders exactly where it wanted them. The stock dividend was supposed to force short covering. The SEC was on their backs. A profitable quarter is coming up. All of this could have forced short covering. ON THE OTHER HAND, these short sellers have artificially kept the price of this stock down. They have been illegaly manipulating the share price. Nothing worked up to this point. MIOA may have felt that with all the good news coming, these guys would have found another illegal way of preventing the stock price from rising. I guess it helps to be an overseas shorter, it gives you the abilitly to be creative in the way you can manipulate a stock's price. These guys were persistent. MIOA wants to concentrate on its profitability and earnings. The cash it raised will help it to purchase additional cath units enabling it to multiply its profits. The additional shares will be covered thru additional earnings.
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