Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Souze who wrote (1223)	11/11/2000 8:55:53 PM
From: James F. Hopkins	of 1438

They will short it to high heaven, both days I expect the short will take place late in day to be sure the closing price is driven down, & on day two by 2:30 pm they will calculate how many more shares they get per dollar from the average price and will short that amount and maybe some extra. Day 3 they they get the shares to cover with the price may go up as they cover but due to the dilution it likey wouldn't be much, as it sure dilutes the hell out of the stock, but it's still a no risk sweetheart deal for Bear Stearns. It's simply milking more money away from the existing share holders by diluting the stock. Sort of like a split but you don't get any extra shares :-) The thingy that they will re-sell the ones they get is just bull shit ( only what they get more than they shorted ) but keep in mind thoes extra didn't really cost em a red cent and they will likely dump em at any price as they won't run the risk of holding them, or give a second thought about wanting the price to go UP, it's not as bad as some floorless ventures I've seen but it's got enough of the earmarks that I wouldn't go near the stock.

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