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Technology Stocks
:
Lucent Technologies (LU)
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To:
Sabrejet
who wrote (
19439
)
3/14/2002 9:57:18 AM
From:
GVTucker
Read Replies (1)
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Respond to
of 21876
Most of the people that wanted to arb the convert probably shorted the stock yesterday. (Note also that some buyers of the convert might have been convert funds or equity-income funds that wouldn't hedge the long convert with a short common position).
For the most part, yesterday's decline was the market's adjustment for the dilution.
To:
Sabrejet
who wrote (
19439
)
3/14/2002 9:59:52 AM
From:
BWAC
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Respond to
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<If the convert is already completed what reason is there left to short other than dilution of shares? >
Maximizing return. Until LU turns around and business fundamentals favor a sustainable price over $6.10 the liars, crooks, and thieves of the world have a get out of jail free card if they hold the convertible.
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