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Pastimes : Georgia Bard's Corner
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To: Ga Bard who wrote (1241)5/2/1998 9:42:00 AM
From: TraderGreg  Read Replies (1) of 9440
 
I always thought most convertible holders short stocks when the price is above the conversion price.

I remember in the case of APM, they had a bunch of convertibles at $18 and when the stock hit $60, those holders shorted against the box., locking in $42 of profit. The stock was hammered mercilessly after that. They covered at like 10, got their profit and still held the convertibles.

Since TNRG conversion price is $3, isn't this problem quite a ways off?

TG
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