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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Lhn5 who wrote (14283)	2/13/1998 4:19:00 AM
From: Kerry Lee	Read Replies (1) \| Respond to of 29386

I'm not going to speculate on type/timing of financing except to say that Ancor has been putting a full court press on it for 2-3 months and has had many written proposals to choose from. I don't know if financing is a done deal or whether they are still working on it. I heard thru the rumormill that they thought they were originally going to work with Morgan Keegan but MK decided to go for the big bucks IPO business, ie Brocade. MK is not paid to be objective. They are in the business of making money and IPO fees are more lucrative than doing a secondary. I also heard thru another grapevine that back in Nov/Dec, MK walked away from Ancor and a certain brokerage in Mpls heard about this and started circulating some rumors about "lost contracts and financing falling apart" and may have even shorted the stock. This may explain why the stock was so weak in December, notwithstanding the tax loss selling season. I wonder if they are still short. At some point, they will eventually cover...as of mid-Jan, there were still over 400,000 shares SHORT and perhaps there will be even more when the Feb numbers come out at the end of the month.