Corel Corp. Message Board

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Technology Stocks : Corel Corp.

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To: Alomex who wrote (9065)	5/17/2000 7:22:00 AM
From: A. Reader	Read Replies (4) of 9798

Corel back at drawing board Software firm mulls layoffs after merger falls through ...Corel shares soared 11% yesterday, closing on Nasdaq at $6. Inprise shares gained 4.8% to close at 61/8. Cowpland said investors are giving a vote of confidence in Corel's Linux software. But Swift said Corel's gains are the result of arbitrageurs who hoped to profit from the merger by selling Corel "short," meaning they sell borrowed stock in the hope of buying it back at a cheaper price. With the collapse of the deal, they were buying to cover their short positions. "Calling off this deal is a huge negative for Corel because they lose that huge amount of cash," he said. He's predicting a long fall for Corel shares once arbitrageurs unwind their short positions.... canoe.com

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