It has dawned on me :)
Issuing convertible notes in speculative stocks gives those taking up the convertible notes the chance to make lots of money while basically eliminating any of the associated risks of investing most us us ordinary shareholders share. For example I get offered the (golden) opportunity to invest some money by way of getting some convertible notes that can be converted to shares within any given time-frame at a 15 percent discount rate to a 15 day average share price. So I decide to invest 5 million. If the price goes up I reap very handsomely and if they drop I can convert and still do ok as long as I can dump my holdings before they drop even further that the price I get them for.
Hence the dumping lately and why GGP management should not issue any more of these putrid con notes.
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