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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Eleder2020 who wrote (18344)10/4/1998 12:19:00 AM
From: George Dawson  Read Replies (1) of 29386
 
Ed,

Thanks for your reply. I think I finally got it - the preferred owners are telling a broker to sell their shares short. This locks in your gain and may have interesting tax implications - if the rules in the last paragraph of this FAQ apply:

invest-faq.com

There must be brokers out there who do this. The other issue of course is that there needs to be a huge demand to move the stock.

I also found the rationale interesting:

"The sole rationale for shorting-against-the-box is to delay a taxable event. "

George D.
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