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Strategies & Market Trends : CXI-Commodore Environmental -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (441)2/23/1998 3:15:00 PM
From: Harry_Behemoth  Read Replies (3) | Respond to of 1755
 
Here's my layman's take on the news.

COES used to own around 58% of CXI. They've been selling CXI stock recently to procure cash for CXI to make it until the Big Deals are announced. This has driven the stock price down to 4. Note that there is no dilution, but the CXI float increases.

My view is that the point of the announcement is to indicate that COES is done selling CXI stock -- down to 44% ownership.

Should be smooth sailing from here, IMHO.


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