Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Harold Feller who wrote (13)	8/2/1998 10:25:00 PM
From: Zeev Hed	Read Replies (1) of 1438

Harold, the short selling part is an open market transaction (and you have to have good "friends" to loan you shares to short, and is the same for floorless holders and "normal shorts"), but in the case of the floorless, covering can be done by delivering stock from the conversion against the short position (delivered to the lender of the stock the bandit shorted) thus creating no buying pressure, while the "normal shorter" has to go into the market to buy shares to cover his short, thus creating buying pressures. Zeev

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