SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Anthony@Pacific who wrote (4766)1/18/1999 8:50:00 AM
From: Brooks Jackson  Read Replies (1) of 122087
 
IMON <<It can if its through a conversion>> I admit I'm an amateur here, but I don't see how conversion of preferred could add more than 3.2 million shares to the 11.5 that were outstanding. That's the maximum number of common shares the company registered on Jan. 11 to cover the possibility of conversion. Also, the actual number converted would have to be considerably less -- the 3.2 million assumed an average 5-day closing price of $1, but the actual 5-day average has been closer to $2 since the registration, meaning preferred holders would get at best fewer than 2 million shares of common.

So I'm figuring -- and you pros tell me where I'm wrong here -- that the float is 12 million, plus maybe an additional 1 million shares added and dumped on Friday if the preferred holders were real smart and moved fast. So what would explain a volume of 23 million, divided by half to account for NASDAQ volume inflation? Either (A) the entire company was sold (all insiders bailed), or (B) there was massive churning and daytrader speculation, or (C) BOTH. My bet is C.

Prediction: IMON makes a brief, "greater fool" rally for the first hour tomorrow, then tanks when it runs out of buyers.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News