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Technology Stocks : GTIS - Will it be a Phoenix or not ? -- Ignore unavailable to you. Want to Upgrade?

To: RJC2006 who wrote (1265)12/5/1997 12:11:00 PM
From: John  Respond to of 2319
 
I think this is a squeeze on arbitragers.

Ex. If you originally shorted 700 GTIS at 11, and bought 1000 MPRS at 7 to cover - you would theoretically lock in a $700 profit. However with GTIS at 9.125 and MPRS at 4.3 - you have made $1312 on your short position and lost $2700 on your long position. I might also be scrambling if I was in this position - dumping MPRS and buying GTIS to cover.

JV...



To: RJC2006 who wrote (1265)12/5/1997 12:14:00 PM
From: Bill Gizzo  Read Replies (1) | Respond to of 2319
 
The definitive agreement was .7 shares of GTIS for each share of MPRS. With GT @ 9 and MPRS @ 4.25 if you buy 1000 shares of MPRS you essentially get 700 shares of GTIS for $4250. That works out to $6.07 per share !!!! A quick 30% discount via the street.Caution: if its seems to good to be true it probably is, of couse this sort of opportunity happens all the time in the markets.
Cheers
Bill


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