LOCK<-------recieved 3 buy recs from NASD firms, that never disclosed their positions or relationship..all three of these firms gace rosy and ..incredulous statements about price :
I made one of two sell recs, My rec was when the stock was at or near its high , and was amde at the same time the CEO sold all of his stock.....
Here is the breakdown:
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STATE STREET: Feb 17, 1997 target : 20-40 actual price after 24 months: $ 1.31
WOODWARD: , May 27, 1998 ,, 12 month target of 30, actual Price on May28, 1999: $ 3.28
CHATFIELD DEAN: June 9, 1998, 12 month target: $10.00, actual price on June 9, 1999: $ 2.81
KEYWEST SECURITIES: October 10 & 15th Sell @ 5 3/4, 1997, 12 month target : less than $1.00, actual closing Price, October 15, 1998: 93 cents
So you be the judge , who was helping and who was hurting and enriching themselves?
I made some money on LOCK...over the time. BUT ..not nearly what I could have made if I ...went long and played dirty games .like everyone else..I felt that it was more important to tell the truth, and set a precedent...
Thats The whole LOCK story, except that there were two rules in particular that applied to market maker in Oct 1997 , which were eliminated in June through October of 1998 |
