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Technology Stocks : CYE - Cheyenne Software...
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To: Speed Racer who wrote (110)10/16/1996 11:12:00 PM
From: neal lundby   of 116
 
I sold late in the day at 30 3/8 before the close of 30 5/8. I was unable to find any news on CYE, but I do have two theories.
1. Short sellers somehow felt compelled to close out positions and bid the stock higher than the bid just to do that.

2. The tech stocks were generally up that day, and computer buying may have caused the price to exceed the buyout because the computers weren't programed to recognized the 30.50 buyout price.

Or, maybe rumors are true. My take on the whole situation remains: If the McAfee bid had been accepted, CYE stock swapped for McAfee would be worth $50-60 and I wouldn't be paying taxes on the gain til forced to sell. Now, all the current buyout did was force me to sell and give all the premium for the buyout to Uncle Sam in a nice fat check. Meanwhile the buddies at the top probably got the golden parachute that the MacAfee bid didn't provide - we'll never know.
NLUND
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