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Technology Stocks : Primestar/TCI Satellite (TSATA)
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To: Jim S who wrote (229)1/22/1999 12:42:00 PM
From: Bo Le  Read Replies (1) of 442
 
Jim,

Tell you a story. When LTV went to Chapter 11 (4 or 5? years ago) and had a reorg done, a single trader sold short 250 million shares at price from $1 to $0.125. The total LTV share outstanding is 140 million shares. Why he did that, because stated very clear in LTV filing, LTV common stock holder would get nothing. How he managed short so many shares? Well, there are a lot small firms on the wall street just do these. It's a sure money for them to make.

For the details about the story I maetioned above, check back issues of Worth magzine. (I think it is in 1996 issues.)

Bo Le
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