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Technology Stocks : General Magic
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To: Jerry Miller who wrote (2596)7/1/1998 7:15:00 PM
From: Bruce Supranowicz  Read Replies (1) of 10081
 
Could the 20% drop these last two days be caused by the sale of
restricted shares from last March? Since the investors were
eligible to sell them a month ago, some of them may be letting
go. Since there was a 15% discount, it's quite possible.

I've seen other stocks where this has occurred. It usually took about
four weeks on stocks with a similar amount of possible shares to sell
off and with average volume of 250K shares traded a day. With the
volume 10 times that, it may take 2-3 days for the selloff of
restricted shares in GMGC if this is really happening. It could have
started yesterday for all I know.

Any comments?
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