AI
Friday, June 28, 2002 12:03:44 PM
A question concerning the float numbers.
If management at BSTI has arranged to have NITE sell shares for them, would BSTI have delivered a large bulk of shares to the market maker prior to the beginning of the selling? I believe this is the way it would have been done. I don't believe NITE would be selling short at the current volumes on a promise of shares from BSTI.
That being said; would the entire bulk of the shares delivered to NITE show as shares in the float, even if they had not yet been sold?
If such is the case, the float numbers may not accurately reflect the amount of shares sold yet or how much selling is to come, since an unknown amount of unsold shares may still be held by NITE.
Of course, my original premise may be inaccurate, along with my speculation. Any opinions? TIA.
If management at BSTI has arranged to have NITE sell shares for them, would BSTI have delivered a large bulk of shares to the market maker prior to the beginning of the selling? I believe this is the way it would have been done. I don't believe NITE would be selling short at the current volumes on a promise of shares from BSTI.
That being said; would the entire bulk of the shares delivered to NITE show as shares in the float, even if they had not yet been sold?
If such is the case, the float numbers may not accurately reflect the amount of shares sold yet or how much selling is to come, since an unknown amount of unsold shares may still be held by NITE.
Of course, my original premise may be inaccurate, along with my speculation. Any opinions? TIA.
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