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Microcap & Penny Stocks : PKGP (Packaging Plus) -- Ignore unavailable to you. Want to Upgrade?

To: GENO who wrote (2901)6/3/1998 1:08:00 PM
From: Chris O'Keefe  Read Replies (1) | Respond to of 4783
 
What will happen when the shorts put small buys in at .10 to .14 cents and the holders will sell at those prices ?

The reason there is excitement about the PKGP-shorts-have-to-cover speculation is that there is no such thing as "the shorts put small buys in". If there are tens of millions of shares shorted, the MMs will have to make moves in big fashion. The theory is that these Big Buys will translate to a big price increase.

If everyone sells at the same rate they are buying, then, yes, the price won't move much. But again, the speculation is that the MM buying (to cover) will be like a tidal wave.



To: GENO who wrote (2901)6/3/1998 1:09:00 PM
From: Jim Reome  Read Replies (2) | Respond to of 4783
 
More than likely their will be sellers at 10 to 14cents. Many though will hold for the July 1st conversion and if indeed this stock is shorted covering will be costly because as of July 1st shares of PKGP will not exist only Universal and to get those shares yah need to have the shares of PKGP. It will be interesting and worth the hold. Little downside and worth the gamble IMO.


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