RE:RE:RE:RE:RE:Share price actionYes, chances are that some people will sell at conversion. However, people don’t full understand what is going on which causes fear and selling. The selling is great because it allows people to increase their positions at lower prices for some inevitable upside.
People don’t realize that the pref securities have solid intrinsic value and if all the "capital gain" seekers sell their pref securities, the face value will drop causing the yield to rise. If the prefs trade down from $10 to $7.12 (equivalent to $0.50/ shares), the yield would be 18%. The lower the prefs trade, the higher the yield will be for people to pick up an approximate 20% yield which is a great opportunity.