Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (18466)	10/9/1999 6:59:00 PM
From: TAPDOG	Read Replies (2) of 18691

Roger or anyone else: PXCM had been trending lower, from 60-48 and then bounced between 50 and 55 a couple of times. Friday it rallied 20% to 65 or so on no news. Today I found this piece of news at cbsmarketwatch. <<Proxicom (PXCM: news, msgs) said after the market closed it plans to sell 3.6 million shares in a secondary offering, with 2.6 million coming from shareholders and 1 million from the company. The company priced the offering at 52 3/8 a share. Proxicom provides Internet solutions to large companies, including business-to-business consumer electronic commerce Web sites. Shares closed up 12 13/16 to 65 3/16.>> So I assume it will go back to 52 on Monday. My question is can anyone explain how and why this stock traded the way it did.

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