Am I the only one concerned about AT&T stock activity within the last five minutes of today's trading?
Here's how it went as I witnessed it:
1-with under 5 minutes to go, AT&T was trading around $58.5 on my real time.
2-forty seven seconds after the market closed, I have AT&T at $59.5. Yahoo quotes verified this $59.5 closing also.
3-A 500,000 block was traded right about the closing time.
4-Around 8:00 p.m. tonight, Yahoo changed its AT&T "last trade" quote from $59.5 to $56.75
Obviously, the above activities are related to the AT&T bid for Media One. It seems like news leaked out before market close. Go to quote.yahoo.com and look at the "1day" chart for AT&T. The stock stayed above $57.5 ALL DAY, yet according to Yahoo it closed at $56.75. I have to conclude that someone(s) or some institution(s) knew before market close and executed one or more AT&T stock transactions. The puzzling thing is that my real time screen is showing $59.5 as the last trade,47seconds after market closure. How can one sell certain amount of AT&T shares below $57 and claim he/she didn't know anything about AT&T's bid for Media One?!!!
I guess what bothers me the most is that every week I see certain suspicious activities effecting the stock prices. All traders, big or small, should be on equal footing, yet there seems to be a few privileged individuals or "groups" manipulating and abusing The Market.
Cheers,
Ron
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