$CLF Convertible Bond BS: Am still waiting for ANYONE to explain how the convert "keeps the stock down" at all. Other than being a simple trade-off of lower interest now for potential dilution later. The same choice made by the issuers of the 904 other outstanding converts in US firms alone (per Bloomberg). Including those issued this year by TSLA, $JPM, ABR, LMCA, WFC, X, $BAC, WGO, C, X, SNAP, Z, AKAM, GES, MLAB, etc. etc. And YES I understand convert arb hedging, as do all the companies who keep issuing them. The only folks who don’t get it are right here on this board. also take a look on this financialinvestments.news/x...
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