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Technology Stocks : General Magic
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To: Carbo who wrote ()11/14/1999 2:59:00 PM
From: Fingerstyle  Read Replies (2) of 10081
 
Why and how does the price keep getting beaten back down? I've been long GMGC for 18 months or so (buying in at a range of ridiculously high and ridiculously low prices) and have been an occasional lurker on this board for about as long. It's incredibly frustrating to see a company with such a great technology and apparent skill at developing partnerships (albeit with dubious marketing and financial management) have its stock price pop up then fall back down immediately after important announcements, especially when other companies seem able to maintain respectable market caps with little more than a product idea.

Could someone please either explain, or provide a link to a past explanation, of why the holders of the convertible shares benefit from beating down the share price and how they are managing to do this (if in fact they are among the culprits)? If the premise behind this question is correct (i.e., that the convertibles are a major cause of the dampening of the stock price), when will this part of GMGC's problems end, so that we could expect the market to respond in normal fashion if the company continues to execute?

Thanks so much to anyone who can point me in the right direction for the answers to these questions. I would happily search through several months of messages on this board to dig up the info, except SI doesn't provide topics and threads (a la Motley Fool), making it difficult to know which message might contain the info one needs.

Best of luck to all.

David Z.

P.S. -- A recent exchange between my wife and me after she heard some reference to General Magic. She: "General Magic -- isn't that one of your bigger stock holdings?" Me: "It USED to be one of my bigger holdings!"
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