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Technology Stocks : Plasma Environmental Technologies
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To: One Trader who wrote (247)7/11/1998 11:48:00 PM
From: Fass99  Read Replies (1) of 420
 
Re: the "contract"

That's actually a good point. At the shareholders meeting, the company listed one of their four main objectives for the new fiscal year as "completing the sale" of the first Plasma unit.

Whether the announcement was made to stuff certain insider pockets - not completely sure. The price, post-halt, was affected by two factors:

(1) The promoters making the contract about the worst kept secret there was for more than a month; and

(2) The MM keeping the stock price so low for so long that, the moment the stock opened at the $0.40-$0.45 bid/ask, everybody and his brother was trying to cash out and the MM pushed the price right back down and then some.

Now you have an MM paranoid if somebody even tries to sell $1K worth of stock. As it stands, if these guys don't get themselves on to the ASE by September, I wouldn't rule out this thing going to a nickel. Yeah, I know what I said about options for directors. But the MM seems to be blowing even that out the window.
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