Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: LPS5 who wrote (440)	8/13/2000 1:41:15 PM
From: Janice Shell	Read Replies (1) of 1426

If you don't follow the absurd MMManip board at RB, you may have missed out on an interesting cause of complaint. A recent example of "manipulation" was offered by a guy who's in AXGI. His account of what happened wasn't entirely clear, but it seems he was (mysteriously) pissed off because his buy order for 19,000 shares went throught at the bid and was called a "sell" on his Level II screen. He's convinced that "the MMs" (no, I haven't looked to see how many there are) are controlling the stock. To what conceivable end? You go take a quick look at AXGI. The thing closed on Friday at .085. Woo woo. You take a rough guess at the real dollar amount of trading we're talking, and at best it's around $40K. How on earth could, say, five or six MMs make any money at all by "manipulating" it? All things considered, it's surprising anyone's even willing to make a market in issues like this one. (And of course there are many many others that have even less liquidity...)

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