Anyone else losing sleep trying to figure out what is driving the price down?
None of the news we KNOW about seems adequate to drop the stock like this. The volume is not out of average range, so I'm not interpreting this sell as major negative sentiment against Nextel. Is it possible that advance knowledge of news for the annual meeting could be that negative? Is some other wireless provider going to announce a DC look-alike? Can we find out if, say, Wendy, is selling shares? Some are suggesting market maker manipulation to replenish inventory. That seems like it could be possible for small drops, but what about 34 down to 25? Could the low volume be indicative of a set-up to take out the stop-losses? That would have to be grossly illegal (and to easy to prove).
I have similar experience as Al on one point - in my past investing experience, a "non-sense" drop like this happens for a reason, we just don't know it yet. If it's manipulation or Street reaction to AT&T, it won't make any difference in the long run.
Thanks in advance for any response. I don't have enough knowledge of some of the market mechanics to know how reasonable some of the above questions are.
Rob, see you at the meeting. |
