WOW! Fascinating, but is it PROVABLE?
If it is the next quetion is whether a widespread and coordinated attack on ASND, in the manner you suggested, is legal or illegal under SEC rules, law, etc.? This sounds like a much more sophisticated kind of raid on Wall Street than was practiced in the late 19th century by people like Morgan, Uncle Daniel Drew and other buccaneers. I'm no lawyer, Wall St. or otherwise, but it sounds like something which ought to be reviewed by someone competent to judge the facts in light of applicable laws, regulations, etc.
IF it's illegal and IF it's trackable (I suspect it would be), it should be brought to the attention of someone prepared to do something about it. Would that start with Ascend's management? (which had to be sitting there in a daze wondering what hit them - even with the high flying tech stocks down that week this was no IDID or even an Iomega which got overblown).
You mention specific options and numbers - do you have the details on the put buys and the call buys (when, quantities, timing in relation to the price plummeting, etc.?) that might point to who the culprits might be? If so, someone ought to get them to an interested and empowered party/parties, IMO, because that sort of thing hurts all investors, particularly those who might have unloaded their stock in ASND in fear that a major correction was happening or that some bad news was about to come out. We're talking about faith and confidence in the market, which has never been solid to begin with, but it's the only market system we have. And we all know that the Nasdaq market makers already are being looked out for possible SEC rule violations in self-dealing, front running, etc.
As it was there was a rumor to the effect that ASND's newest product (so-called TNT) was being delayed - it caused the company to issue a report denying that rumor and that TNT was right on track. Then I think their CFO put out a statement that there was no reason to feel that the company's earnings were not on track (I may be wrong about the exact nature of the statement but I believe there was one). The rumor(s) were part of the coordinated attack, I would guess, based on what you've said in your fable.
This was no IDID bubble breaking which was a predictable event in light of the facts. Even though manipulation might have been involved to get IDID's momentum going upward so as to create the bandwagon effect, it did take on a life of its own thereafter. No, ASND is a solid company with excellent management and great future prospects and it didn't deserve to be sharkbait.
I hope someone with smarts takes this on.
Dee Jay |
