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

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To: drakes353 who wrote (1475)	7/28/1998 12:30:00 PM
From: chester lee	Read Replies (3) of 2506

Thread, AND down close to 25% at the moment. Yesterday they issued at hype-me press releast and the stock bounced, with steady buying in the last three hours of trading. biz.yahoo.com I though the buying was related to their earnings report, and that earnings had leaked. Appearantly this was not the case. The earnings were issued this morning, and it stinks. biz.yahoo.com Revenues are decreasing and expenses are growing. The must read news story (link provided below) also mentions a private placement convertible deal. Hmmm. biz.yahoo.com "The Notes will be convertible into share of the Company's common stock at a conversion price equal to the average of the two lowest closing prices of the Common Stock during the 30 trading days preceding any date of conversion, subject to a maximum conversion price of $16.125 per share" The 2.1mm shares puts the dilution max at 20%, with a floor price of $5.25, roughly, because of the 6% annum interest. Shares outstanding is at 11mm, float at 8mm. PSR is roughly at 4. (sorry, I don't have all the data in front of me) Can somebody paste a market guide report?? chester

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