Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: westpacific who wrote (794)	5/8/1998 5:00:00 AM
From: Bill Wexler	Read Replies (4) of 4634

SPLN short squeeze unlikely. SPLN short interest currently stands at around 670,000 shares (end of April). This means that less than 2 days are required to cover. With 4 million new shares recently dumped into the float, the overall float standing at about 50% of all shares outstanding, and the stock trading near its all-time high, I believe that it is very unlikely a short squeeze can be effected. No one is going to be calling back the 2 million shares the insiders just dumped - since most of those shares probably ended up being distributed to small fry. I believe that we are now in the exact same situation as USWB...a secondary being offered on top of buy recommendations issued by the underwriters. USWB proceeded to collapse soon afterwards from the high 30's to the low 20's.

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