A few thoughts on "Batman" I wanted to bounce off other people. N.B. this is not a flame or some attack on Batman, just a few suspicions I have.
1) He's manipulating the stock, almost certainly with no information. So far everything he's posted has been unspecified forebodings about a "Rubenstein"; unspecified accusations about directors' personal lives; strange stuff about a former executive's supposed arrest warrant in Latin America; and vague accusations about various directors being frauds or thieves. What does this have to do with the stock price or the management of the company? Nothing, unless he were to say something that explains its meaning. If Batman's shorting the stock, as he says he's been, he'd have no problem coming forward with specifics about the accusations he's been making. As it is, he's been asked both on SI and on Stockhouse to explain who "Rubenstein" is and what that person's "situation" is. He hasn't done so yet. Ergo, it's a safe bet that this is fiction.
2) He seems to post right around the opening of the US markets, even though he's in the UK. Again, if he's been shorting, a nifty tactic to drive the stock price down. N.B. that he doesn't post on weekends.
3) He keeps promising forthcoming information, but never seems to produce it. Another nifty tactic to prevent any upward movement on the stock price. Where's the "big post" he claimed to be preparing for the SI thread this morning? I wouldn't be surprised if it showed up sometime between 8 and 10, EST, *TOMORROW*.
4) He's conveniently beyond the jurisdictional reach of the SEC and the NASD board.
5) The directors certainly aren't stupid enough to screw with the securities laws and risk jail time to pull some of the tricks Batman's accused them of. If information about inside shareholders' arbitrage was available to Batman, it's certainly available to some other shareholder (or a bright lawyer) ready to file a derivative action, attempt to reach the directors' personal assets, or file a complaint with the SEC. That's the way things are.
Of course, YMMV and AFAIK Batman's some genius with insider information, smirking about everyone else's folly in buying long on this stock. It just seems more likely to me that he's a dude using a few Internet BBSs to manipulate the stock price of a low volume OTC issue.
I'm posting this not to attack Batman, but merely to solicit other people's thoughts. No need for flames.
Marx |
