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Technology Stocks : JDS Uniphase (JDSU)
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To: CAtechTrader who wrote (12010)7/26/2000 4:47:33 PM
From: Surfer  Read Replies (2) of 24042
 
Hi All, Can someone explain to me how do MM justify opening stocks gap up/down? Take example, JDSU was gap opened on 7/20 from 106 close to above 125 for about 3 million shares or so. Then, it stayed within $2 most of the day. So, how it works? For 3 Million or so shares price jumps more than $20. Then, during the day, volume does not make a difference. If I understand correctly, share has to rise $20 in this case to bring out the sellers to match buyers for market on open. Am I understanding it correctly? In other words, how do they come up with gap up/down?

It happens every day in some stock or other. Does SEC has any rules for MM about gap up/down for stocks? Appreciate if you can shed some light into my amazement.

Thanks.
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