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Technology Stocks : Lucent Technologies (LU)
LU 2.555-0.8%Dec 31 3:59 PM EST
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To: Anonymous who wrote (16469)9/29/2000 1:20:01 PM
From: Anonymous  Read Replies (2) of 21876
 
This is a question seeking an answer and anyone (or anybody) can take a crack at it.

I'd like to know how the price is set on a stock after a company announces earnings and results are poor?

Yesterday Apple Computer closed at 53 1/5. They then announced quarter results (which of course weren't as the STREET had expected and the future doesn't look rosey either) and today the stock opened at 28 3/16. That's a drop of 44.8% of share value that evaporates into thin air. Who is powerful enough to determine the opening price?

Who decided that the stock should open at 28 3/16?

Please, no answers like "It's the forces of the market!" or "It's just part of the Market crap shoot!"

.....ANON
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