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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme
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To: Robert Knight who wrote (2689)6/4/1998 9:22:00 PM
From: Dave Gore  Read Replies (4) of 8798
 
PIPEDREAM OR 10-bagger in 26 days? Would love opinion on this

Robert, this has hurt many stocks lately. Which is why PKGP has gotten some attention. There is apparently TONS of NAKED short selling going on and the company's stock price has been driven way down through the convertible shorting method you described, from what I understand.

It appears the company is fighting back and they are profitable (see latest news). Stocks appears fairly valued over $1.00 but is at 7 cents. 52 week high was about $1.50 in fact.

The company had hired a PR firm and will change their name on June 30, e which means that all the certicates must be turned in and accounted for... or so I understand. Which theoreticaly means that all the naked shorters will have to buy these shares back to cover.

Now the question is.....to any experts here... will this likely cause a short squeeze as many believe or is this just a dream? Because it would seem that if we all bought 10,000 - 100K shares and held for 3 weeks, we would create a monster squeeze.... true? false?

COMMENTS?

PS-- I believe there is a float count that has been started and some feel that they already control it, but I wonder....sounds good though in theory...just have no experience here whatesoever.

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