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Non-Tech : Any info about Iomega (IOM)?
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To: Dale Stempson who wrote (2696)6/10/1996 5:02:00 AM
From: Fred Fahmy   of 58324
 
Dale,

You misunderstood me when you said,

"I don't think a reduced short position is "sweet music for IOMGeans who are long." It only reduces future buying power. Carlton Lutts touted the stock in part, due the large short position. What is Cabot going to say when that changes?"

I was cheering the addition of another 1/2+ million shares of short positions. I too think a large number of shorts is healthy. Frankly, I find it amazing that 10% of the new shares at $35 would be shorted. Maybe there was a short term case to short at $55 (it obviously worked for some), but at $35 it seems pretty darn dangerous to me. I wonder how much money has been lost shorting IOMG? I wonder if there has ever been more money lost shorting a single stock?

FF
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