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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (52547)	4/25/1999 10:32:00 AM
From: tonyt	Respond to of 164684

<<Eski -- thanks for reminding us about the converts at $234. Do you think it will be a factor this week?>> It should already be a factor. At $234 Amazon can force the convert, however, bondholders already have the option to convert ('When the Amazon converts were issued Jan. 29, they gave investors the option to convert the bonds into common shares at a price of $156.05 a share, which represented a premium of 27 percent over the closing price of the previous session') My guess is that the bondholders have already begun to convert, either directly or through short sales (keep this in mind the next time you see the short interest as thay may include bondholders locking in profits) -- And I doubt that these bondholders will become long-term equity holders.