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Non-Tech : Cityscape Financial (CTYS)
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To: blankmind who wrote (1194)10/21/1997 2:53:00 PM
From: Zeev Hed  Read Replies (1) of 2544
 
Blankmind: No, they do not have to cover, they can convert and deliver the stock they sold higher at the lower conversion rate. But, they may actually be interested in doing this trip a number of time, so they may cover into a panic selling like today. Newbiesand traderrs will see a huge bargain at the infinitisimal PE and bring the stock back up (who knows, maybe mid 4'?) and then the floorless will come back and short into this temporary rise.

Zeev
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