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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: peacelover who wrote (9511)7/27/1998 1:09:00 PM
From: Seth Leyton  Read Replies (1) of 42804
 
The increase in the short number is ENTIRELY due to the private placement. Management in my conversations with them did not understand why anyone would short a stock at 21-23 when the deal has a conversion at 27 and change. The reason is that that 5% is a below market yield for a junk bond so people short the stock in anticipation of the price dropping.
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