CKR:The Fastest Growing Restaurant Message Board

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Non-Tech : CKR:The Fastest Growing Restaurant

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To: Chuzzlewit who wrote (52)	3/23/1998 3:20:00 PM
From: The Perfect Hedge	Read Replies (1) of 100

Paul- I tell you what I think is happening.They did the private placement of convertibles a week ago and got even more money than they wanted which shows good interest but I think arbitrage has been killing the stock.The conv investors have been shorting the stock in droves so as to hedge their bet(known as conv arbitrage) and collect interest on the shorted stock.I have spent alot of time with CKR on the phone and they think the same thing.Short interest has increased 35% in the last month to 3.4 million shares which gives it it's highest short interest ever.I think the shorting has tapered off and we should see a rebound starting this week.The fundamentals are still in place,the eps was great;no surprises..GD

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