Shockwave Medical Inc (SWAV)

[sab63090]

Kiwi:
These investors own the convertible bonds which apparently has been increased to $650 Mil....so when the price makes a move UP, they put on short positions & then cover on the drop; these are professionals and have a great sense of highs and lows.

Convertible bonds issued puts them in control...a little hard to explain other than it will hamper the upside to the stock...overall my experience just suggests that it's not great for shareholders other than a capital raise for the corporation...they collect interest on the converts along the way and get to play the price as to when they sell.