Below what your broker saw. Mark this is not do to a blow out quarter. This is either a systemwizard deal or rumor of a system wizard deal. If it's a deal we will be a be at 20 within a few weeks if it's a rumor we will be at 10. One thing nice about the volume had to clear out a lot of stock as it moves ahead. Good luck to us all, I'll be buying in the morning. Still got a wedding to pay for.
NEW YORK (Dow Jones)--SystemSoft Corp. (SYSF) shares rose 15.7% on heavy
volume Thursday afternoon.
A company spokesman said he believes institutional investors have been
snapping up the stock in the wake of positive comments from an analyst and news
that the company's software will be included in more personal computers shipped
by Packard Bell Electronics Inc.
"We've fielded a lot of calls and had a lot of visits from institutions that
are looking for stocks that haven't taken part in the most recent rally," said
Paul Sereiko, vice president of marketing at SystemSoft. Invariably, he said,
after such visits activity in the company's stock has risen. He declined to name
any of the institutions that have shown interest.
Sereiko said the institutional interest, coupled with positive comments by
Oppenheimer & Co. analyst James Poyner over the past weekend and the fact that
Packard Bell will ship its SystemWizard software in more PCs, "have combined to
sort of shift the momentum a little bit in our favor."
Indeed, institutional buying appeared to be heavy, with volume in blocks of
10,000 shares or more at 1.14 million, compared with average daily block volume
of 49,300.
Recently, the stock was up 1 3/4, or 15.7%, to 12 7/8 after reaching as high
as 13 earlier. Overall volume was 1.98 million shares on Nasdaq, compared with
the 310,400 share daily average.
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