Steps used by myself and the folks I trade with to see this pr was BS:
1) the original release found on CBS Marketwatch was full of gramatical errors, run on sentences, etc. (However, later when we checked it with the source site [internetwire.com] most of the errors didn't exist).
2) the way the pr was signed. The lady whose name was at the bottom to be contacted uses a different format in the way she "signs" the pr. Comparing the release to the few previous releases showed as much (how she listed herself, the number of lines, how the phone number was typed, etc).
3) a quick scan on the emlx news, found that emlx had never (or at least recently) used this wire to put out their pr's.
4) The company was based on the west coast, making the time of the PR 6:30am there. The CEO was probably not even up yet, let alone the rest of the company. Which leads me to #5:
5) Based on this type of news, it is more likely that EMLX executives would've been in the office. Several phone calls placed to the office were unanswered, both to the main office and through direct lines as referenced in the PR.
6) The news didn't hit any respected wire until much, much later when the stock was already down 50 points. AP, Dow Jones, BizWire... SOME other wire would've had this news released to them in its original form (see #8).
7) The news was not released on the EMLX website under their PR section.
8) When the major newswires did pick up the story (Bloomberg was first)... instead of any new information, it was quoting directly from the Internet Wire Story. The stock was still trading as these were hitting, so again it gave the opportunity to buy when one made the connection.
9) The stock would've been halted by the company based on this news... NO WELL-RESPECTED COMPANY would've issued a PR as the opening bell rang of this magnitude and waited an hour before the stock was halted.
10) Common sense. No rumours of anything of the sort hit in the last few days. And the stock was extremely strong actually (breaking over 100 for the first time in a while). Usually when something like this happens to a company, the stock trades weak into a story like this (believe me, the word will get out... it's <gasp> insider trading!!), or at least rumours surface. Not a peep out of anyone regarding this story... then out of the blue it hits.
That's most of them that I could remember running through on Friday... if I think of any more that I did I'll post 'em.
regards,
Jason |
