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Technology Stocks : p-com (pcms)
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To: charlie who wrote (1282)1/19/2000 4:47:00 PM
From: Steve Lee   of 1461
 
This ain't right:

"they could just short sell enough to offset their position, and then pocket the 40million difference"

You must know there are only so many buyers at the bid, and after that only so many at the next bid price down. So by the time they had sold all those short stocks, they would be selling at a significantly lower price. This is why the stock was sold at a discount rather than just issuing more shares which would have gone on the open market straight away.

The expectation must be that by the time these stocks are sold, there will be enough additional good news to offset the selling pressure.
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