Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.650

+0.4%

Dec 26 9:30 AM EST

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To: Elroy who wrote (18520)	8/1/2001 3:15:56 PM
From: BWAC	Read Replies (2) of 21876

<I don't get what caused the stock drop> Dilution is the obvious answer. More short sellers piling on. Sure seems weird that people would be lining up to take in a convert bond sale (now LU got such a response they are upping it to $1.75 Billion, with a lower rate, higher conversion price) when everyone is yelling fire about LU going bankrupt. Strange isn't it? Unless of course you have been short a Billion dollars worth or so and are using the convert bond to cover rather than covering on the open market. Imagine that? LU just probably gave an out to Billions of dollars worth of institutional shares sold short. An out with interest. SO maybe LU really fell today because the shorts stopped covering.

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