Joe Copia's daytrades/investments and thoughts Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ColinD who wrote (16675)	6/18/1999 11:51:00 AM
From: D Ruccione	Read Replies (1) of 25711

The seller in Wednesday's 5,093,500 share transaction was almost certainly the State of Wisconsin Investment Board. According to its amended 13G statement filed 2/4/99, WIB had built its stake to 10,093,500 shares of CMLK. A coincidence? I do not think so. The transaction at .01 was clearly a pre-arranged transaction. Someone paid $50,935 for the shares. Who would do that? Regardless of the "bargain price", only a buyer who had a pretty clear idea that the price would go up. It was certainly not a Market Maker swap. My guess is that the same group of Bass Brothers-related funds that earlier acquired at least 18 million shares (see the 1/12/99) 13G has been in touch with WIB in its ongoing efforts to acquire a controlling interest in CMLK. They must be very close now; more likely they are there. Why would SWIB sell the shares at .01 when they could have gotten twice as much in the market if they'd spread it out over the past month? Well, let's see, if they still have their other 5 million shares, maybe they have an interest in seeing the Bass group get a controlling interest. Or not. Could this get interesting? Nah, probably not. Di

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next