Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Retired Eagle One who wrote (2334)	10/6/1999 9:54:00 AM
From: Danny Chan	Read Replies (1) of 15615

Folks, I have been reading a lot of frustration about GBLX not moving up while others are moving among the posts here and yahoo board. Here is my take: When a merger in such comparable size took place, there will be a lot of shares floating for trading. Although GBLX merely moves 1 point range each day, but the volume of 15-20 million shares creates huge value for traders. It's equivalent to some smaller stocks move 10 points a day with 1-2 million trading volume. So there are a lot of shares being traded in and out each day and these shares are gradually being pulled out the market to long term holders. Given the sudden increase in the float, it will take 3 month or even longer for long term investors to absorb. Until then, GBLX will continue to trade in tight range and little movement. A good comparison is to Worldcom when it acquires MFS 3 years ago. WCOM stock traded sideways for more than 3 months before it broke out. So if you are long term holder, sit back and relax and if you are trader, go ahead and make profits.

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