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Technology Stocks : The Panda Project (PNDA) -- Ignore unavailable to you. Want to Upgrade?

To: Douglas Simpson who wrote (1510)	3/1/2000 7:50:00 PM
From: Daniel Chisholm	Respond to of 1521

Amazing. They announce that they are proceeding with the asset sale, and the stock zooms, and continues to zoom. This is the asset sale that has been described for some time now in their federal filings. The one that will result in Panda selling essentially all of their assets, in return for about $600K nominal (book value) value of restricted stock in a nonpublic company (the acquirer of the assets). Panda will still be left with negative shareholder equity. And yet the stock zoomed, then zoomed some more, and then kept on zooming. Must be a pretty wicked short squeeze (thankfully, I covered my short some time ago). I wonder if one could get a good solid borrow on some shares? Since the asset sale will go through (we are told by the company's latest 8-K filing), there will be about 50M shares outstanding. The company is as worthless and hopeless as it has ever been, and yet today its market cap closed at about $38M (75 cents/share * 50M shares). Provided one gets a good borrow and doesn't get called in (though who knows, these crazy days....), shorting PNDA is probably as good as money in the bank. - Daniel