Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: joe v who wrote (17494)	7/29/1998 12:12:00 AM
From: iceburg	Respond to of 29386

joe, Cant tell me that investors,who ever they maybe aren't shorting this dog!!!!!!!!!!! Yes I can. They are not shorting it. First of all, there is a no shorting clause in their contract. If they wanted to short they would have to do it covertly. Secondly, it is difficult to short stocks under $3. Thirdly, 800,000 shares doesn't put a dent in what they are owed. They are owed roughly $15M right now, at $2/share that works out to about 8 Million shares with their discount. Shorting a few hundred thousand shares is peanuts to these guys and dosn't hedge enough to make it worth their while. These investors are amongst the most loyal the company has. Accusing them of contributing to this decline is a joke. They could have sold in double digits like the rest of the Series-B holders last fall. There are companies out there with more shares short than the entire float. 850,000 shares actually is not that high compared to the 12M shares out there. We dropped below $3 Thursday. The last of the cash calls will be due tomorrow, perhaps a little longer with extensions. Then everyone will be in cash. I am not sure what will fuel selling after that, the negative facts are pretty much on display. Stocks that are sold from under people are done so at market. This is prime time when Smart money takes shares from fools at wicked prices. Steve