Dave,
After the q1 report I contacted the SEC concerning GSCO activity relative to CHKPF. The Yahoo msg board indicated another request.
Your probably aware of the report issued a while back concerning NASDAQ price variabilty compared to NYSE Open Out Cry system.
GSCO, or someone at GSCO, is manipulating this security to one degree or another. There are industry fraud statistics which support that companies have some level bad behavior going on. These activitities sometimes are on a big scale, refer to CD and its cooking of the books.
GSCO dominates this security, eventually, this will change as the float is more evenly distributed, but lets not be naive. How many stocks to you know, which, consistently have beat earnings estimates based on formal public reports, drop like a ton of bricks after they are reported.
This last qtr, while the drop was precipitous, does have some foundation, but look over the past record. The company will move upwards or downwards 3 points, independent of news or general market conditions, this is manipulation. Who's the culprit? Who knows. Is it Vinik? Who cares.
The key on any activity of this nature is that it does not last forever. If the fundementals are sound, stock will eventually discount any manipulative behavior.
Just an opinion, no support in facts. |
