Kasten Chase (KCA/TSE): Buy it! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Kasten Chase (KCA/TSE): Buy it!

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Perry who wrote (35)	8/20/1997 4:35:00 PM
From: Perry	of 193

Here's the actual article from Dow Jones. Kasten Chase Stock Gets Boost From 1.47M-Shr Block Trade By Boyd Erman TORONTO (Dow Jones)--The crossing of a 1.47-million-share block of Kasten Chase Applied Research Ltd. (T.KCA) at C$2.10 a share earlier Wednesday has now cleared the way for other investors to jump back into the stock, said one trader. Word on the street earlier was that there was a seller with a large position in the stock for sale, said the trader, who didn't wan t to be identified. Kasten Chase spokesman John Carlesso said he had also heard Tuesday that there was block of the company's shares up for sale. Carlesso said he didn't know the identities of the seller or the buyer of the block, crossed by Sprott Securities Inc. He speculated the buyer was likely institutional. Sprott Securities specializes in institutional trading. Whoever the buyer, now that the block is off the market at a low price, it's created investor interest in the stock, the trader said. He noted some investors are looking to get into a stock that has been trading lower-than-usual lately. As soon as the block crossed, Kasten Chase moved as high as 2.70 on the Toronto Stock Exchange. It's now trading up 0.19 at 2.50, on volume of 1.69 million shares. The trader noted Kasten Chase had a technical break-out of its regular trading range of between 2.80 and 3.20 after it reported disappointing second-quarter earnings last week. He said the stock had been drifting lower, but whenever a big block crosses "it generally speaking will create some excitement, so that's why you've got the big bounce on it today." Kasten Chase supplies data communications.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next