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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Ray Rueb who wrote (3169)	8/3/1998 1:06:00 AM
From: Earlgrey	Respond to of 10081

Honestly that article scares the shit out of me. Earl p.s. thanks for the info but I sure as hell won't sleep to well tonight, has anyone been able to decifer whether GMGC's deal prohibited short selling. Why do I get the sinking feeling it did not grrrrrrrr

To: Ray Rueb who wrote (3169)	8/3/1998 1:25:00 AM
From: Kurt Goebel	Read Replies (2) \| Respond to of 10081

I remember someone asking Markman at the CA shareholder meeting and I remember him saying that they could not short before conversion but that they could do whatever after. Anyway seems like it is worth a call to General Magic IR? Kurt

To: Ray Rueb who wrote (3169)	8/3/1998 3:43:00 AM
From: trust200	Respond to of 10081

let's keep our heads cool about these various convertible deals. The series B have a conversion at the lower of 3.5 or the prevailing market price at the time. So for the time being, any series B investor would be nuts to sell short now. They would lock-in a loss. The series C converts are the ones to think about. Also because the volume is almost 10x that of the series B. Series C investors can convert at the lower of 19.95 and 135% of the trading price at the time of conversion. But there is one catch. They can only convert after Nov 98. So for the time being they are not going to short. Why should they ? Does it makes sense to short at 10 when the only thing you know for sure is that you can own the stock in November for 19.95 ? If hedge funds would work like that they would have very few investors.