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Technology Stocks : Quarterdeck: Making a Striking Comeback!
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To: DS who wrote (2219)1/15/1998 8:42:00 AM
From: DS  Read Replies (2) of 3307
 
More on conversion: After March, don"t necessarilly expect a mad rush to convert. More conversions would likely take place the lower the stock is - assuming that the holders view the stock price near a bottom (Jesse I think this is what you were meaning above). If the preferred holders think there is more downside they would most likely wait - maintaining their downside hedge. So conversion rate will likely be driven by share price - the lower, the more conversions and more dilution (a double whammy) would take place. A higher stock price (even slighly above $5.125-max conversion) wouldn't necessarilly prompt conversions either - remember, owning the preferred versus the straight gives the holder a "free hedge". Of course, the higher the stock is above $5.125, the more conversions would likely take place (along with selling of shares) to take profits. Am I way out in left field ?????? Comments, please.

DS
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