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Biotech / Medical : Neotherapuetics possibly has a breakthrough drug - NEOT
NEOT 1.919+4.3%Jan 17 4:00 PM EST
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To: tuck who wrote (115)8/20/2000 11:22:01 PM
From: Marty  Read Replies (1) of 204
 
I'm still here, Tuck, but I am pretty shell shocked.

I haven't gone back over our debate completely, but it is clear that you were right and I was wrong. As I recall, though, you said it was in the bondholders' interest to drive the price down and get stock converted to them at a vastly reduced price and cover their short position. I think I thought that it was unlikely because the Company would have to kind of cooperate by not giving out any positive information during the period as that would kill the shorts.

I agree with you that the terms will be reset and who knows whether or not manipulation was involved. This course of events was highly unlikely 90 days ago. It may have been that the ineptitude of the PR played right into their hands. They assured us it was not that kind of deal where the bondholders would benefit from driving down the price but that is exactly what happened.

The thing I don't understand about your prediction is why back up the truck now? Wouldn't the bondholders that shorted to drive the price down from the high teens and just cover with the stock they get at 6 to complete the trade? Why should it go up now? What is a "a conversion rally" and why should it start now?

I should have listened to you then and I will respect your opinion a lot more from here out. I promise to answer your messages sooner too. You were right! Tell me more.
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