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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: Dale Baker who wrote (1977)	11/8/1998 10:15:00 PM
From: chester lee	Read Replies (1) of 2506

dale, Yes, WEBB does have outstanding convertibles. I'm short a measly 200 shares at 5-1/2, and will probably add to the position at higher prices. I'm surprised the stock is up on the news that they are calling off their purchase of Skyconnect. <<Online System announced on June 9 it would acquire Skyconnect for an undisclosed amount of cash and stock. With the drop in Online System's share price, the value of the deal also dropped, the company said.>> I guess the stock is going up because they will have more cash left for operations sicne they are not going to spend it on Skyconnect. chester

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