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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (2362)	8/30/1998 10:40:00 PM
From: Cube	Respond to of 18998

tippet, I've heard that said now a number of times, so I'll put my inexperienced 2 cents in. 55 million shares outstanding and only a 1.6 million float means that the vast majority of this stock is held by company insiders. It seems to me the choice to stem the tide of a short attack is to try and buy back your shares, but with only 1.6 million left to purchase, they are nearly a private company right now. If there is something nasty going on that management has not yet made public, we should see the float start to increase and the price start an orderly downward march. Which would mean that indeed management is trying to cash out. I'm most interested in the fact that it appears that the short interest is nearly 3 times the float. Sorry for horning in Mr. Pink. If I got the above wrong, I trust you will clarify. Cube