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Microcap & Penny Stocks : Rentech(RTK) - gas-to-liquids and cleaner fuel
RTK 0.200+5.3%Oct 13 5:00 PM EST
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To: pressboxjr who wrote (7066)8/13/1998 2:37:00 AM
From: LAWRENCE C.  Read Replies (1) of 14347
 
HR, The preferred stock holders want to convert the preferred stock into as many shares as they can. So the preferred holders are converting into common at these low prices because they expect the value of the value of the common to be worth more than holding the preferred stock.
Note: Both preferred and common holders also don't want the common to fall below a bid of $1 because if the bid falls to $1 the company is subject to delisting.
Lucky Lawrence
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