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Congrats Grampa Jerry!
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Now on to Laura bashing...
In the last 7 trading days for pmtc...
Date Volume High/Ask Low/Bid Close
-------- ---------- ---------- ---------- ----------
06/22/98; 1,474,300; 32; 30 7/16; 31 13/16
06/23/98; 3,733,200; 34 3/8; 32; 34 3/8
06/24/98; 3,012,300; 35 3/16; 33 3/4; 34 13/16
06/25/98; 3,287,800; 36 5/16; 33 3/16; 33 3/4
06/26/98; 13,959,100; 32 3/4; 28 13/16; 29 1/16
06/29/98; 6,398,000; 30 1/16; 27 3/4; 28 1/16
06/30/98; 6,330,000; 28 1/16; 26 1/16; 27 1/8
As you can see the volume on pmtc picked up 3 days before the Goldman Sachs analyst, Laura Cunning-liaro made her call to lower the Parametric Technology short term revenue estimate by $8 million or 2.6%. Remember, with this call she didn't even change her earnings/share estimates for that company. In those 72 hours before the announcement, Goldman's "favored" clients probably were informed that a market moving call was coming. The churning of accounts started on Tuesday...and churn they did. Since 6/23, some 36 million shares of PMTC have traded or over 6 million shares average/day which is over twice their 30-day average volume of 2.7 million shares/day.
In the fable of Rumplestiltskin, the gold was spun from straw...but who needs a spinning wheel when Laura has found the GOLDEN CHURN...turning customers shares into Goldman Sachs giant profits.
Not only that, but she has effectively lowered PMTC's market cap by...
Drumroll, please:
$2.7 BILLION DOLLARS
(or 27% off the pmtc recent high)
So, this was logarithmically larger a churn than any she's done on little old sdog.
...as one can see by the market cap drop which is 3 times SDRC's entire market cap. Yikes!
Rumplestiltskin found the wrong gal it seems.
Cubster |
