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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: wgh613 who wrote (545)	5/15/2001 10:23:36 AM
From: schadenfreude	Respond to of 6873

Re: RRRR I think this is the worst deal I've ever seen. Consider that MTNT is up 38% to around 2 while RRRR is down 25% to 1.27 (10AM). Multiply the RRRR price by 10 and divide by 6.4--the value of RRRR in MTNT shares--and, magically, you get $2. In other words, it took a huge gain by the acquirer and huge loss by the acquiree to close the acquisition discount. If MTNT had traded flat, RRRR would have had to trade at 0.93 to get the same result, a haircut of almost 50%?!? But it gets worse. RRRR shareholders are stuck in a useless preferred issue until MTNT trades above $3. No dividends while they are forced to wait?!? RRRR management should be sued. If this was the best they could get for this POS, they should have liquidated and distributed the remaining cash to shareholders. This stinks.