Bryan,
Re: PRNS-Prins Recycling June 22, 1996-1PM
I think that someone is manipulating the hell out of this
stock. Why would the company issue a press release yesterday
saying to the effect that they can not find financing for
the company....are they crazy or what. The stock promptly
took a dive to $ 1.25. After thinking about it for a few
minutes....I promptly bought another 5,000 shares at a
$ 1.35. I am now even a bigger shareholder.
I think that something is just fishy here my gut tells me.
Watch this thing move back up. Lots of buying(over 2 mil shares)
yesterday on "bad news".
Also, I went back and checked out all the Bloomberg data as
well as anything else I could get my hands on.
In the month of March, over 16 funds bought over 956,041
shares of PRNS. Some of the funds include such names as:
The Travlers Group, Calfornia State Teachers Fund, NY State
Teachers Fund,Merril Lynch, Fidelity, and Lehman
Brothers.One fund-Dimensional Fund Advisors bought over
250,000 shares alone. Also, the float on this stock is just
3,200,000 million which is great for volitility, as we have seen.
I think this fund buying was part of the private placement
of $ 13 Mil,(March) but I am not sure. How can these guys be
out of money??....like I said, I think something is up here
but I can not figure it out, but don't be surprised if this
runs back up to $ 3+ IMO. Hope I am right.
John--Atlanta |
