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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: GTC Trader who wrote (12045)12/8/1999 9:25:00 AM
From: RMP  Read Replies (1) of 59879
 
Before you get too excited about yesterday's activity, bear in mind that the price of BJCT right now reflects a 1:5 reverse split which occurred several months ago. The price of 6 5/16 therefore represents an equivalent price of $1.25/share pre-split when BJCT was being followed on this board quite some time back. Having said that, its current level is about a 100% rise from where the stock had been recently shortly after the reverse split, and follows several days of constant upward movement without any news. Furthermore, what is even more puzzling is why this stock skyrocketed intraday to $15 and then plummeted back down to around the 6 - 7 range for the remainder of yesterday. Any explanation?

RMP
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