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Technology Stocks : Nam Tai Elec. (NTAI)
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To: j rector who wrote (1342)4/4/1998 9:24:00 AM
From: mod  Read Replies (4) of 1696
 
Normally, a company does not have to disclose how many shares they have bought back until their 10-Q is filed. By selling the shares on 4/1 instead of 3/31 (end of this quarter), disclosure can be delayed until at least July or August. However, if the shares were bought from the CEO, that is an unusual situation that should have been disclosed promptly, IMHO.

What MM would buy a block at the ask? None. They are smart enough to demand a discount in order to resell at a profit, knowing the price would drop on news of the CEO selling. The only possibilities are either the company bought the shares (most likely) or an institution bought them (possible, but less likely)

Dennis
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