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Technology Stocks : p-com (pcms)
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To: lazarre who wrote (1280)1/14/2000 1:14:00 PM
From: charlie  Read Replies (2) of 1461
 
In my defense, these investors bought the stock at 6 while everyone else is paying ~10. Note it is 15% discount to the average price in the last 60 days, during which period the stock is crawling out of shit. I am not sure how long they would have to hold the stock, but they could just short sell enough to offset their position, and then pocket the 40million difference. Who would not come aboard if he can make a 50% return in one day? I would margin everything I have to do that!

My point is PCMS could have just sold some secondary offering and the dilution would only be half of what it is today. The problem, I suspect, is that the management does not have the credibility to even manage one.

Charlie
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