Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: Zeev Hed who wrote (2502)	6/30/1998 4:24:00 PM
From: Ploni	Read Replies (1) of 2544

Sankar is actually a brilliant analyst Yeah; I'll always be grateful to him for leading me into Cityscape; and the way he jumped ship without posting that fact until many hours later, when the stock dropped about 30%; and how he kept saying that even though he was temporarily out of it, he still thought it was a great investment and would return to $30/share. * * * The weird thing is, I still haven't heard a reasonable explanation of what happened. Clearly, Cityscape managers were liars who totally misrepresented the extremely poor position of the company in the U.K. But the dynamics by which the company plunged so quickly on no news seems to indicate blatant illegal manipulation, probably massive short-selling by the convertible holders. My correspondence to the SEC has not been acknowledged yet.

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