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Strategies & Market Trends : Rande Is . . . HOME

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To: American Spirit who wrote (33451)8/31/2000 1:44:09 PM
From: Rande Is  Read Replies (3) of 57584
 
CNBC favors Robertson Stephens over viewers in CVGP report. They held their report of today's biggest mover throughout the morning. . .to the point that it was suspect!

Huge pre-market gainer totally ignored by CNBC.
Heaviest early volume. . . ignored by CNBC.
Highest percentage gainer in the AM. . .ignored by CNBC.
No report until 13:10pm. . why?

I believe they "held up" their comments on the request of the Robertson Stephens anal-yst. . . who was most likely heavily short. . . .and who was most likely "working on a report".

By the time this report on CVGP was reported by CNBC, half the day was gone. . .Tom Costello mentions CVGP's meteoric rise on $100 million in new sales, as reported by the company. . . .then immediately read the report from "Robbie Stephens" anal-yst, who claims that "he believes the $100 million was previously reported and that his estimate is that the company has only received $5 million in new sales."

The stock tanked immediately.

It now appears to viewers that CNBC and Robertson Stephens may have worked together in a beautifully orchestrated effort. . . which allegedly resulted in driving the price of CVGP down 1/2 point immediately after the report at 13:10pm today.

Credibility is vital to news reporting!

And get this. . . . Robertson Stephens initiated coverage of CVGP 2 days ago!

By ignoring the CVGP news when it was released around 8 am, then ignoring the 40% rise and incredible volume, both in pre-market and open market, it appears to viewers that CNBC crossed the line from reporting the news "as it comes out". . . . and rather selectively favored certain news over other news. And if that is shown to be what they did, then it is market manipulation. . . plain and simple. And if they did it this one time, then how often does it occur?

SEC. . . .are you there?

Rande Is
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