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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Rich Wolf who wrote (9241)3/13/1999 3:43:00 PM
From: I. N. Vester  Read Replies (2) of 27311
 
Zeev has always painted CC as a vulture, and
one with unusually sharp 20-20 forsight into
exactly what the stock will do (he always
assumes they shorted all their shares at any
market top).

The fact is that CC has an unhedged long
position of 1M+ shares. This position is at
full market risk since late Dec. when
they gave up the variable conversion option.

They also accepted terms on the B series which
strongly limited their ability to short the
stock by putting on daily limits.

Zeev and his puppy Larry keep insisting
that the CC financing deal shows that vlnc
was desperate and that the only deal they could
get was very bad for shareholders.
The facts have proven them wrong, but
they still keep singing the same old tune.
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