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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: Paul J. Sharga who wrote (24)8/6/1996 8:09:00 PM
From: DDS-OMS   of 6467
 
Surprised to see you here--usually see your thoughtful posts flaming dppl/ Jim Roof over on the short/put thread. So, its encouraging to see some one else that appears to view this stock as I do, although maybe I'm not as critical, sitting here with over 50K of TTRIF.

I am aware of 2 possible reasons for TTRIF's weakness; first this stock has been on NASDAQ's restricted list for virtually a year--so its a given there's a high # of shorts. But obviously the MM can churn the stock and supposedly close their short pos without ever actually doing so. Secondly, Lionel (TTRIF's PR) said a month or so ago that the Atlanta group (Shwartz Investments) that placed the $10 mil conv deb got warrants to purchase 452K sh @ $2.21 and Lionel says they are exercising these now and selling on the open market since June or so. Three weeks ago Lionel said they were about half done according to his calculations, and are continuing to exercise/sell stock. If so, I would assume they are about done now, but its hard to see why anyone would buy @ 2.21 and immediately sell @ 1.24-1.5. Lionels thought is that their ave price exceeds 2.21, but I think that beggars the imagination.

Since the stock is still on the restricted list, there is a huge # of shorts that I would think would be covering here, unless they believe its going to zero. Could be a setup for a short squeeze if any significant buying ever comes in. Look at chart last Nov and late Jan when the stock skyrocketed from 1.5 or 2 to 3.75-4.00 in a matter of days. I suppose that could have been a short squeeze.

Would sure like to here some other opinions??????
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