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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: Scotsman who wrote (4033)10/29/1998 9:55:00 PM
From: Carl R.  Read Replies (1) of 4697
 
Actually the MU situation is that enough DRAM producers have thrown in the towel that the price has stabilized. This is good for MU, but bad for WFR. WFR benefits from more production, not less. If the price stability had arisen from an increase in demand rather than a decrease in production, that would have been good for WFR.

I haven't been around a lot of rights offerings. The only thing close I recall was the NETVZ warrants that were called a couple years ago. In that case the called warrants had the same effect as having a large number of outstanding calls, and the stock price was driven down to the strike price at expiration day. I presume that once the strike price for the warrants is determined, WFR will be pinned at that price until after expiration.

Does anyone else have any read on this? Obviously prior to the determination of a strike price the stock can freely wander.

Carl
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