Monitoring short interest -
Month+ SharesShort Diff Avg Daily Vol Ratio*
09/99 2,499,869 29,157 199,590 12.53
08/99 2,470,712 139,973 156,225 15.82 Aug 99(News)
07/99 2,330,739 184,363 171,241 13.61
06/99 2,146,376 267,694 126,057 17.03
05/99 1,878,682 320,125 157,880 11.90 May 99
04/99 1,558,557 90,118 118,408 13.16
03/99 1,468,439 214,626 130,703 11.23
02/99 1,253,813 -391 165,869 7.56 Feb 99
01/99 1,254,204 202,574 258,729 4.85
12/98 1,051,630 53,762 377,377 2.79
11/98 997,868 229,190 469,735 2.12 Nov 98
10/98 768,678 139,020 5.53
"The total dollar amount converted through October 21, 1999 was approximately $8.05 million converted into 1,334,764 shares of Valence common stock."
Most increases in short interest were in 11/98, 1/99, 3/99, 5/99, with the maximum short increase of 320K shares in May 99. After May, the short interest increases slowed down at less than 200K shares/month. In Sep 99, it went down further to less than 100K shares. It appears as if the bears are backing off a bit and their pessimism with respect to VLNC has started dissipating in Sep 99. Need the Oct data.
If I assume that CC's conversion into 1,334,764 common went to replace the short sale, the Sep 99 short interest of 2,499,869 goes down to 1,165,105 common in October. I am not sure how much CC has been shorting last month. Any new data on short interest? Ram |
