Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?



To: Sabrejet who wrote (19439)3/14/2002 9:57:18 AM
From: GVTuckerRead Replies (1) | 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: BWACRead Replies (1) | Respond to of 21876
 
<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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