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To: Striyker who wrote (11483)6/10/1998 3:50:00 PM
From: AF  Read Replies (1) | Respond to of 11850
 
i have schawb i will call them on covering shorts on name changes. challenge 5 others and post. unless someone knows the rules!



To: Striyker who wrote (11483)6/10/1998 3:50:00 PM
From: Craig K  Read Replies (1) | Respond to of 11850
 
Watch for them to drop the Bid back here...I is just normal stuf...

Craig



To: Striyker who wrote (11483)6/10/1998 3:53:00 PM
From: Lee Walsh  Read Replies (3) | Respond to of 11850
 
They only have to cover if there is a change in the cusip#...I don't know if it is the case here or not. But any MM would be crazy not covering here after selling shares last week at $1.00-$1.50 They are making a killing. Personally, I believe we saw the bottom today.

Just my opinion.

Lee



To: Striyker who wrote (11483)6/10/1998 3:57:00 PM
From: RocketMan  Respond to of 11850
 
I believe they are applying for a new cusip number, which is more than a name change. My understanding is they have to close out the books on the old cusip and open them on the new one, and they have to close out their short positions. Again, this is only my understanding, which should be verified from a qualified nasd person.



To: Striyker who wrote (11483)6/10/1998 4:30:00 PM
From: Blitz  Read Replies (2) | Respond to of 11850
 
NAME CHANGE COVERING...

It is decided on a case-by-case basis.

In some cases the MMs AND the investors who are short,
have to cover their short positions before the name change
takes effect.

Sometimes they don't have to cover.
Sometimes they do have to cover.
Each case is different, we will know for sure
within the coming weeks.

Hope this helped clear things up.