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Technology Stocks : KOSS CORP (KOSS) Sweet Music to My Ears
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To: Steve Patterson who wrote (73)9/11/1997 2:44:00 PM
From: Rick Shaum, Jr.   of 105
 
Steve,

The Time & Sales window for Monday (9/8) showed that a block of 41,400 shares was bought for 13 (12:42pm) and sold immediately for 13 1/8. That accounts for 82,800 of the 100k total volume for the day. There were also two other 5k blocks traded at 13 which brings us to 92,800 of the total.

The most logical buyer is KOSS. They have the money and the interest in buying back their own shares and I believe that they perceive it as a value even in the 13's. The only other possibilities would be a mutual fund or a very interested individual. I think the most likely for a block of 41,400 shares is KOSS.

Who is selling? I believe that it is either a mutual fund or a private individual who has accumulated a lot of stock. During my conversation with Michael Koss, he mentioned the possibility of KOSS buying back shares from a private trust that owns a substantial number of shares (more than 40k). This would be the most likely possibility IMO.

The good news is that this new price level is holding very well. I counted a total of 4,000 shares that were sold on Tuesday (9/9) at a price of 14. This would indicate that some other people are coming on board the KOSS train and we should continue to see continued price appreciation.

Rick
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