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Gold/Mining/Energy : Tracer Petroleum (TCXXF)
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To: Hunter Trout who wrote (592)4/15/1998 10:48:00 AM
From: Jim Daly  Read Replies (1) of 1261
 
<<And if Tracer does a reverse-split, it will still end up on the BB at a fraction of its pre-split value and still won't come back.>>

That is a possible result. But if the split doesn't happen Tracer will be continue to fall and still be delisted. The fact that it's bellow a dollar now means that that is assured.

Lets look at the movement of the stock recently in post split terms. Tracer was trading in in a range most of last fall $.12 -.19. That would be the equivalent of $1.20 to $1.90. now when Tracer said that there was the possibility of a new infusion of money the stock rose to $.25 .28 range and bounced off of .30 a couple of times. The equivalent of $2.50 to $3.00. all of these movements are quite volatile in and of themselves. At the presplit numbers the movements are as much as 50%. Quite a lot. But we are talking about a penny stock.

Short pressure: Most brokers will not allow shorting of stocks valued less than $5.00. I know that some will, but I don't think that will effect the stock any more than lethargy caused by no news. I think that Mr Mowatt and the folks at Tracer understand this and will endeavor to keep help stabilize the stock with action. They are very concerned about the misperceptions. So, with the reverse split they can qualify for private placement, thus, action. Without it, we are definitely on a slippery slope.
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