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Technology Stocks : Innovacom (MPEG), [announced single chip MPEG-2 encoder]
MPEG 0.0001000-50.0%Aug 29 1:17 PM EST
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To: Secret_Agent_Man who wrote (62)10/6/1996 2:30:00 AM
From: Sean Lin   of 6297
 
My broker gave me a slightly different story. I believed that he mentioned it was 100,000 shares (or 20,000, we called more than once during the fall), and the seller was selling short. He also told me that if the seller can not borrow those shares, the seller will need to cover it in three days, and we could expect a short sqeeze next week.

Could you, or someone, provide information on MMs' of this stock. I wish to know if some of them are big firms. I am also interested to know if the rule I got regarding short selling is true.

I also called the company and suggest them to issue a public statement to assure that there are not pending news that was sufficient to cause the selling, if there indeed none. Their IR told me that they will consider it, and in addition, they do have some good progress to announce soon that is not related to this fall.

I hope this is a real company, and more third party information will become available.
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