That release may have been as you say.
But...They all are designed to help the price.
But...Think about it, do you honestly believe that a company could say..well this news release will get us to x dollars?
(and be right?)
I can only say that I saw Joe's revue, and to me..the rise from 10 to 31 was due soley to cnbc.
Try to get the tape if you can.
here's what I saw:
joe gets on I think it was at 3:31 pm est
He says"here's a stock that closed at 2.00, and it is trading at ten."
Normally we don't like to report on these because we are aware of the "cnbc effect".
however we know that this will pop up on screens because of the unusual volume.
It normally trades about 2200 shares a day, and today it has traded (I think he said 1.2 million shares) so far. So people will start to find out about it any way.
Then he says, "first we will go to commercial, and when we come back, I'll give you all the symbol."
so what he did was make the tease, got everyone interested, and had half of america frothing at the mouth.
he comes back from break, gives the symbol, and boom..up to 31.
so you see...joe made a boo boo, IMO.
I believe he should have ignored it.
I believe if he had, the stock would have settled down back to the 5 price it had hit at mid-day, after a first run to ten. (but who knows, I am just guessing on that)
I also think that the news story they did on it fri night, was a CYA story, I think they know they did the wrong thing.
the conclusions I am making are just spec, sure.
the joe story is I believe is almost 100% verbatim.
(it's from memory, so I could be wrong a little on some of the exact wording)
see if you can get the tape, I think they sell them, I am not sure,though.
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