Joe, my thoughts on QTNT:
To: +Dave Gore (6998 )
From: +Joe Copia
Friday, Aug 7 1998 10:14AM ET
Reply # of 7003
Dave, what are your thoughts on QTNT?
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Joe, my opinion only:
this is a stock that is being manipulated beyond belief. There have been far more buys over sells over the last 3 weeks, yet the stock price has plummetted from $1.16/1.25 on 7/20
to 50/59 cents or so today.
Yesterday, even with all the overwhelming buying the MM's absorbed all shares and the stock finished down for the day.
So, either the MM's are going very short or they are being fed cheap stock or both. I have uncovered a possible large block of stock that may be the source fo the supply to the mm's. I have only told a few people about this and others are conducting investigations as we speak
I believe there is a possibility that there may be a landmark court case exposing lots of people on this one. This is not me talking but people far above little 'ol me. Right now, I think the Company is honest but naive and I think they have a great product, although I have not seen it first hand.
As for the stock price, if the price keeps going down on low volume, you would think it means that the MM's are going shorter and shorter.
I think the stock is quite undervalued, assuming that everything the company and others are telling us about their products and purchase orders is true.
IF the MM's have the supply of stock I and others think they have, they should be running out of it soon (maybe another 200K shares or less). That is only a guess though.
I certainly would not sell. Everyone is advising that if people sell, you play right into the MM's hands and let them cover. It is crucial, I would think, to keep buying until their supply of stock is dried up.
If everyone holds, there is a possibility that they will move it lower but it only makes them look more guilty and gets them shorter. When news does come out and when their supply is exhausted, the stock could skyrocket, you would think. But I personally have no clue what will happen 30 cents or $3.00? I have no idea.
I welcome any thought. If it involves evidence against the MM's or others, please send by PM. I recieved informatiion yesterday that the MM's were actaully BUYING at 53 cents when the bid/ask was 53/59.
The idea was to make it look like some selling was going on. |
