SI
SI
discoversearch

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.
Technology Stocks : NEXTEL
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Rob Prickett who wrote (6267)5/22/1998 12:25:00 PM
From: Arnie Doolittle  Read Replies (2) of 10227
 
Rob, in my opinion what we're seeing in NXTL's drop on consistently low volume is the power of the NASDAQ market makers to do what they want with a stock. If this stock were on the NYSE I think that we'd see a different picture. Granted, the stock would be down but in an auction environment of a stock with NXTL's float the price would be much higher. This is the reason that at the annual meeting I asked Dan Akerson to move the stock to the NYSE. It's one case where spending money would make a DEFINITE difference to shareholders' value. THE NASDAQ IS NOT AN AUCTION AND THE MARKET MAKERS DO WHAT THEY WANT WITH PRICE, ESPECIALLY ON THE DOWNSIDE. If you doubt that, try to buy at the bid. Your chances are slim and none.

I can tell you that there's a debate within NXTL between key players over the relative merit of making the change. So let me say to those folks at Nextel who are against moving to the NYSE. If you want to continue seeing NXTL whip-sawed by market makers then leave the stock on the NASDAQ. But don't complain when the market undervalues your company's stock. You folks all have stock options and I would think that you would be SERIOUSLY concerned about how stock prices are pushed to and fro by the NASDAQ market makers. There's plenty of information in the public domain that document the NASDAQ pricing practices so there's plenty of opportunity to get informed.

Arnie
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News