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Technology Stocks : MITEL (MLT)
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To: Ally who wrote (1684)11/4/2000 6:32:10 PM
From: Stocker   of 1730
 
Ian,

how did the first trade transact at $18.... 30% below last closing price? Maybe a buyer punted low, and a panic seller gave in?

It's pretty much as you said. The lower open happens as a result of a lack of buyers at any price above $18 really. Sellers obviously would have liked something higher but it simply means there were no buyers willing to pay that higher level. Specialists just determine where that supply/demand comes into balance.

Happy investing.
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