A hydrant for ULGX? Why.
A) It will draw fire
B) I piss on the hydrant (I did, when I was 6 years old..) :-).
C) ??
DMED has preferred outstanding but fixed with a higher conv ($8.4, $7). Today's action was firm up.
But maybe there is something in it, the filing has a wildly complicated conversion adjustment chapter lasting 2 pages, which allows for downward adj on nearly every event, not only self-dilution.
Times are gone for blunt straight floorless. Now, things get complicated, tendency is to crowd it with options, so that pure downward Action is no longer the only motivation, but it doesn't help the common, either. (Maybe they employed some financial engineers).
For example: Ol' INCL is one with a 12-day revolving look-back in it, (with a double bottom average). You never know when low spiking occurs, and it may be done on trades outside market.
Difficult to short, as upward averaging out and immediate buy action on low spikes is necessary. Need to count the big blocks, which may stand for unloading printed common.
Christian |
