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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: drakes353 who wrote (1181)6/17/1998 4:36:00 PM
From: Q.  Read Replies (2) of 2506
 
ZITL just announced another discounted convert deal. They are quite upfront about the discount. Usually you have to read the SEC filings to learn about this, but their news release tells you straight away that they convert at a 10 percent discount to market price.

I won't benefit from this one, as my limit order to cover executed a few days ago, and the stock is now below 5.

It basically has been the perfect broken stock. And that comes after being the perfect high flier at the end of 96.
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