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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: stan_hughes who wrote (1073)6/12/2001 8:08:10 PM
From: Lorne Larson  Read Replies (2) of 11633
 
stan: you're absolutely correct on this one. The brokers short sell into the issue, knowing they can cover at the issue price. The reason they can do this is they have prior knowledge of the new issue price. It's insider trading, and is completely illegal. Drives me crazy that our so-called regulators allow this nonsense to go on. This is of course an entirely different issue from whether APF could have done better than $11.50 on the issue, or whether APF is a bargain at this price.
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