AUTOHOME, Inc Message Board

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Technology Stocks : AUTOHOME, Inc

ATHM 20.94

+1.3%

12:52 PM EST

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To: MIKE REDDERT who wrote (20850)	4/13/2000 11:37:00 PM
From: M. Frank Greiffenstein	Read Replies (1) of 29970

Tired of the MM nonsense... Mike, the MMs do NOT have the capital to defend stocks. At last count, all MMs and brokerages had a total of 258 billion free cash (source: NYTimes). The market is (or recently was) 14 trillion in size. No MM is going to stand in the way of a crashing bull by buying up tons of shares. This is even more true now then it was in the "old days" before the government and lawyers forced narrower spreads on MMs. There is not the profit there used to be, only increased volume has kept MMs profitable. The bottom line is this: No MM is going to gobble up ATHM at ANY point, and if someone tries, they can't possibly stop a stock that trades millions of shares a day. MMs see the writing on wall, with ECNs just matching selling and buyers. DocStone

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