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Technology Stocks : Quarterdeck: Making a Striking Comeback!
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To: Linch who wrote (2430)2/28/1998 3:51:00 PM
From: Jesse Livermore  Read Replies (1) of 3307
 
The conversion begins in March based on price. It depends how many people convert and sell. At 2 1/4 we will get about 10,000,000 shares converted to common I think (but I have not checked for exact number). This is built into the price I suspect and explains the sluggishness. It will naturally dilute earnings which should be better on new product sales and quality reports. Price support depends on how many of the new converts are long term or looking for a quick sale. Here is where the old cartel conspiracy theory raises its ugly head: If the converters are short from a year or so ago then they will immediately sell trying to drive the price down and then they can cover their shorts. If the price goes back to 1 it is then the buying opportunity of the century as the dilution is over and the shorts will cover on any up movement. If there is no dip here, then there is no short cartel and we are in the new era clean of the old series S, the law suit, the merger indigestion, the competition with Microsoft for Internet products, the QEMM dependence, and we go forward with an excellent management team, new products of high quality, a new strategy with more equal competitors, a low overhead, and a coherent strategy and corporate organization.
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