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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Citidude who wrote (2551)12/30/1999 12:24:00 PM
From: ccryder  Read Replies (1) of 2693
 
The restructuring leaves the stock worthless. The continuance of Iridium is in limbo. Even if McGraw buys Iridium, his interest will be short term like 2 years. And he will be buying it from the debt holders and bond holders who have the priorities. The stockholders have no priority. The only reason you saw any life to the stock after the restructuring was the shorts covering prior to the new year. They get their profit now as opposed to waiting for some sort of declaration that the stock is dead.
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