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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: gruetz who wrote (7847)9/21/2000 7:20:27 AM
From: DukeCrow  Read Replies (1) of 15615
 
Don't forget that Qwest has filed to sell 5.103M shares. That's a bit of supply, and I'm sure Qwest is going to sell shares into any Global Crossing rally. That may hold us down for a little while and is probably keeping investors from buying until they know the coast is clear, and the selling has subsided.

Even taking this into account, the real problem may be that Qwest will still have somewhere in the neighborhood of 32M shares (please correct me if this figure is wrong) of Global Crossing left. Just the threat of a slow bleed of those shares into the market may prevent any meaningful rally in price over the near term.

Just more buying opportunities, I guess.

Ali
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