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Microcap & Penny Stocks : Dollar and Under Sleeper Stocks

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To: Rande Is who wrote (5511)	3/16/1998 12:44:00 PM
From: Norman Stone	Read Replies (1) of 8835

I think you are asking how the tail wags the dog... First and foremost: no stock makes the "bigs" without sound fundamentals, and no company without sound fundamentals stays in the minors. Second: a company's P/E will vary by industry and anticipated growth. Only third: market hi-jinks (from overenthusiasm to hype to market-maker manipulation) will cause local fluctuations. Sometimes these fluctuations will affect company performance, but that effect is on average negative, since unusual volatility brings out the worst in the marketplace (suspicions of price manipulation, for instance.) These hi-jinks will never get a stock onto the big boards, because companies undergo the most intense scrutiny whenever they try to qualify for a change in status. Companies are evaluated on their STRENGTH, not on the price of their stock.

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