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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?


To: SteveG who wrote (5206)4/15/1998 10:21:00 AM
From: Steven Bowen  Read Replies (2) | Respond to of 12468
 
Now that conversion is seeming rather inevitable to the holders of the convertibles, wouldn't it make sense for them to start shorting the stock, knowing they will be covering with 20 5/8 stock?

Two benefits; it's delaying the conversion so they continue to receive the 14%, and they're locking in their stock gain at these lofty levels, doubling their money.

Just looking for reasons that explain this weakness.
(Unless Jim's just shorting more)