Globalstar Memorial Day Massacre Message Board

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Technology Stocks : Globalstar Memorial Day Massacre

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To: Maurice Winn who wrote (332)	7/8/2000 1:04:34 PM
From: Jon Koplik	Read Replies (1) of 543

Maurice - real reason GSTRF shares are difficult to get transferred (from one securities firm to the new one). When a particular security is in high demand (we already know that about G. Short sellers want* that stock to borrow and sell short) ... Those controlling the shares (securities firms holding securities on behalf of investors, or ... large institutional investors who lend securities themselves) will be able to extract some serious extra compensation from those who are borrowing the shares. (This is analogous to the "repo" rate (repurchase agreement rate) (in U.S. Treasury securities borrowing and lending) going to some wacko rate, due to a severe (temporary) shortage of some particular issue. The firm holding the GSTRF shares now has a big moneymaker, and will probably be "stalling" as long as possible before delivering the shares to the next firm. Jon.

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