OC;
Wow, that does not say a lot for the average intelligence of an internet long -- mark f, randy, william h and dare i say, even you beloved grimmie -- you are all great at anticipating what will be attractive to the greater (greatest?) fools, Fools, imbeciles, lazies, greedy etc. and you have profited handsomely from it -- congrats -- please don't confuse your ability to identify good momo investing and get in early, which you all did admirably, with any kind of ability at all to do FA -- you can't -- if you could you'd been out of this stock ages ago -- lots of ways to make money and you've found one, but please with utter lazy and/or phenomenally stupid people like these driving these stocks, don't pretend the company has much of a future at these levels of valuations --
<<<
Retail internut daytraders are ever stupider than anyone had imagined:
Thursday December 3, 3:24 pm Eastern Time
Temco shares double, then fall, in case
of "mistaken identity"
NEW YORK, Dec 3 (Reuters) - Shares of building maintenance
and security company Temco Service Industries (OTC
BB:TMCO - news) momentarily doubled on Thursday only to reverse course in a flash
in a move
traders said seemed to be a case of mistaken identity.
The sudden spike carried Temco shares as high as $65 from a closing price on
Wednesday of
$28.75. The move came on the same day that shares of Ticketmaster Online
CitySearch
(Nasdaq:TMCS - news), a well-known Internet company, debuted on Nasdaq after its
initial public
offering.
Traders, who asked not to be identified, said they believed people bought Temco
shares believing
they were Ticketmaster stock. The Nasdaq symbol for Ticketmaster Online, ''TMCS,''
is very
close
to Temco's Bulletin Board symbol, ''TMCO.''
''We saw some unusual activity. There's a high probability people were buying the
wrong stock,''
said one Nasdaq trader.
Temco did not return calls for comment.
Another trader said the sudden move was a particular surprise given the infrequent
trading typically
seen in Temco shares and the lack of a ready explanation for the sudden interest.
''Everyone in the country wanted to buy the stock at the same time for a couple of hours
and there
wasn't any news from the company,'' the second trader said.
Ticketmaster shares were trading at levels fluctuating around $50 a share in
mid-afternoon, up from
an IPO price of $14. Temco shares had returned to a price of $28 a share by late
afternoon. >>> |
