(MORE) DOW JONES NEWS 06-23-99 03:46 PM Story 4727 =DJ Ashton Tech Up-2:
Possible Speculation On Pdt Launch-CFO
PHILADELPHIA (Dow Jones)--Shares of Ashton Technology Group Inc. (ASTN) climbed
27.7% Wednesday, but Chief Financial Officer Art Bacci said the company announced no
news.
Bacci said he didn't know who was buying the stock, adding, "I think a lot of people out
there are speculating as to when we are going to launch" an electronic trading system for
the Philadelphia Stock Exchange.
The previously announced volume weighted average price trading system, to be used by the
exchange for some equity trades, was developed by an Ashton subsidiary. Bacci would not
say when the company plans to launch it.
Shares closed Wednesday at 11 3/8, up 2 15/32, on volume of 1.5 million shares, slightly
less than average daily turnover.
On June 14, the price of the company's shares fell 20%, also without company news. "We
just don't follow this stuff on a day-to-day basis," Bacci said of the price fluctuations.
Ashton's 52-week low of 1 3/32 came on Nov. 11, while it hit a high of 18 on May 24. |
