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Technology Stocks : Winstar Comm. (WCII)
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To: Ross Abrams who wrote (746)2/23/1997 11:06:00 AM
From: Steven Bowen   of 12468
 
Ross, I hate to disagree with Rid D. but there's still to many questions. Does he understand how the stock is locked up and who it was that received the stock from the Milliwave deal? Even if someone has agreed not to sell the stock until 1st Q 98, would this prevent them from shorting the stock (as David M aka dmcl sugested) and them covering the short in 1st Q 98 when stock is not locked up?

StockSmart lists the 3 largest holders as Nicholas Applegate with 1.7M, Founders with 1.7M, and 20th Century with 1.2M (as of the June 30,1996 Q. It sure will be nice when this site can give us more up to date info) It also said all three were new postions that quarter. So they were obviously the ones that were high enough on the stock to chase the price up to 32. With no company fundamentals changing and the outlook seemingly only getting brighter every day, it just doesn't seem feasible that one of these 3 would be dumping their stock that they paid $20-$30 for at $13. I guess that someone has dumped at least 2M shares over the last month and a half. Therefore the only possible sellers would probably be N A or Founders but I just don't believe it.

And again, the beginning of the sell off coinciding almost exactly with the anouncement of the Milliwave deal seem too coincidental. I feel whoever is going to receive that stock started shorting that day. Does anyone know a site that you can find current up to date short positions? It'd be interesting to know the short position now vs what it was 2 months ago. If the short position has gone way up, I'd think it was related to the Milliwave deal. If it hasn't then you'd have to believe maybe someone like NA was selling.
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