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Technology Stocks : Warp 10 Tech. (WARP)
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To: Jonathan Basch who wrote (1031)7/13/1998 9:23:00 PM
From: Ted M  Read Replies (2) of 1164
 
Yes, I almost bought at the low for the very reason that I could see a manipulative company doing something like that. However, I don't know why Banks would sell unless HE or a relative is the very person who bought back in with the large volume.

Here's the possible scenario: Banks hears of the HP deal, and gets wind of when HP will announce it. One week prior, the stock drops from 1.5 to .25 on his sale of a million or so shares. The drop was even enhanced by the announcement that he was selling. He sells His percentage loss? Roughly 80%. He buys back in the millions of shares under a price of one and perhaps sells in the 3-4 range, gaining 400 plus percent, making out with a huge profit in the millions.

Of course it could just be a coincidence, but the timing of the two events is very suspicious and I think this scenario is possible. Can anyone address it? How can we research this?

Ted



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