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Microcap & Penny Stocks : NYRR,What is going on?
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To: robert heisman who wrote (4003)6/29/1999 1:33:00 AM
From: 246810   of 4304
 
I understand what you are saying about the price after a reverse split. The equivalent value is less than before the split even though the actual price is higher due to the split. Of course sometimes management doesn't care about price other than to get it up to attract more investors who are too lazy to research the total picture. There is very little control over penny stock management, unless one sues them.

NYRR is not being pressured to meet any NASDAQ requirement other than reporting by the end of the year to avoid the "awful E."

If they desire to have SmallCap listing status they need to be bid over $4 for, I believe, 20 days. They also have to be responsive to the public shareholders, like have meetings, ask for approval for some things, etc. I doubt that NYRR is interested in all that responsibility for the foreseeable future.

Market Makers are speculators just like us. It boils down to humans with terminals trying to make money for their bosses (or to a small extent themselves). Each chooses a bid and an ask price to suit their own perception of the supply and demand picture and to maximize their profit, just like us. They have two paramount advantages: 1) They can short, and short naked at that. 2) They get to compete against each other for the "inside market" to be able to "turn quarters" as we used to say.

246810
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