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Technology Stocks : WAVX Anyone?
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To: Kevin who wrote (4410)10/28/1998 1:17:00 PM
From: Peter Caradonna  Read Replies (1) of 11417
 
Yes there was a gap and REAL jerky trading. Pre market bid was up to 6 1/4.

My theory is that someone (MM possibly) built up an inventory of shares over the last few days from 2.5 to 3ish. Then at market open they had a limit 5 sell then flushed the rest for what they could get.

Here's an idea of how to get over 5 for a while. Get someone to suck up 5 or so million shares. They would need about $20M. Then file a ton of papers with the SEC.

Now who'd do that?

p
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