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

To: Nine_USA who wrote (17990)	9/10/1998 8:22:00 PM
From: Craig Stevenson	Respond to of 29386

Herb, I'm not sure I made myself clear in my earlier post. (I'm not sure I know exactly what I'm talking about, so that's no surprise. <g>) What I THINK happened is that the Reg D guys shorted the stock, and then drove the price down by selling some of their Series B shares. Then, when the price dropped, they got their Series C shares converted at drastically reduced prices, and covered their shorts at the same time. Because of the low price, they probably couldn't own all they could convert, so they used the remainder to continue the selling pressure on the way down. (All speculation, mind you.) My logic behind thinking that the Reg D guys believe in Ancor's prospects is that according to the S-3, they all appear to own the maximum number of shares allowed. I would have thought that they would have shorted and bailed out if they didn't believe that Ancor was going to ultimately succeed. You could well be right, since my understanding of this whole thing is pretty limited, but that's my thinking right now. Now that the S-3 has been filed, it would be interesting to talk to one of the Reg D guys to find out exactly what they were doing. (And also to find out how far off we really are. <g>) Craig