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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: F. Lynn who wrote (950)3/20/1998 11:22:00 PM
From: drakes353  Read Replies (2) | Respond to of 2506
 
F. Lynn:

i'd be careful shorting this one----new management has radically different ideas than old one

Hey, be kind to the old management....at least they issued earnings releases. Must admit that I've never seen a company just plumb, um, forget, to put out an earnings release. Amazing that they had the time to do two S-3/A filings this week but couldn't spare a minute or two whip something up about their fourth quarter and the fact that 35% of sales are going away.

Interesting way to run a company (into the ground.)

drakes353



To: F. Lynn who wrote (950)3/21/1998 3:06:00 AM
From: dumbmoney  Respond to of 2506
 
<< new ceo has convinced old management and holders of converts to change the strike price on the bonds ... >>

True, but dilution is still unlimited because of the discount feature. Plus, the company gave away warrents as a sweetener. I think the convertible holders got a pretty good deal (= bad for shareholders).


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