Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 180.99

+3.9%

Dec 19 9:30 AM EST

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To: Trader J who wrote (8863)	3/4/1999 1:25:00 PM
From: StockHawk	Read Replies (1) of 56535

PLCOP - Sounds too good to be true. Trader J mentioned PLCO about three weeks ago. PLCO is a toy store co. with 25 stores on the West Coast. They are adding stores and will be expanding in the East. I can not figure this out. The stock, PLCO trades at $2. However there is also a preferred stock - PLCOP. Each share of PLCOP will be covertable to six shares of PLCO beginning 12/99. So, if PLCO is $2 and PLCOP is good for six shares of PLCO it would seem reasonable that PLCOP would trade for something near $12. But it's not. In fact PLCOP has been trading for a little less than PLCO. I called the CFO - James Frakes - and he said he had no explanation why the preferred traded for less than the common. Said it didn't make sense. It would seem that PLCOP is a great buy but usually when something looks too good to be true there is a reason. I'm looking for one. If anyone can suggest the skeletons in this closet I would appreciate it. If this is legit it would appear to be something we should jump on. I am doing some more DD and will post what I find. StockHawk

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