WinStar Finished 1998 as Most-Heavily Shorted Stock
New York, Jan. 29 (Bloomberg) -- WinStar Communications, which saw its shares rise more than 56 percent last year, ended 1998 with the most shares held by short-sellers among mid-cap stocks, Fortune magazine reported, citing Short Alert. Short sellers, who sell a security they don't own intending to buy it later at a lower price, owned 24.7 percent of WinStar's shares as of Dec. 31, 1998, Short Alert said. WinStar is seen as a potential partner for AT&T Corp. or British Telecommunications Plc, the magazine said, although AT&T and WinStar officials declined to comment and British Telecommunications wasn't immediately available for comment.
WinStar, which provides wireless local phone services, said last month it will buy part of Williams Cos.' nationwide fiber- optic network for $640 million to connect WinStar's local networks across the U.S.
(Fortune 2/15 147 www.fortune.com) |
