BFT: Will the tulip craze ever break down? Message Board

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Strategies & Market Trends : BFT: Will the tulip craze ever break down?

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To: Pancho Villa who wrote (620)	11/11/1998 6:14:00 PM
From: polarisnh	Read Replies (2) of 650

Pancho, I thought that I might tell you what John Dessauer had to say about BFT in his November edition of Investor's World. Please comment if you would like. "Bally Total Fitness (NYSE: BFT, $19) is up sharply from $11 in early October. There are 4.13 million shares sold short. That is 17.4% of all shares outstanding, and probably more like 33% of the effective float. (There is a lot of stock held by insiders, Lee Hillman, CEO, owns a million shares and has been buying more. There is a lot of Bally that is simply not for sale.) One of these days there will be a short squeeze in Bally's stock. The shorts will have a hard time covering their position. That alone could drive the stock back above $25." Cheers, Steve

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