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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Robert Cohen who wrote (5752)12/3/1998 10:31:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
Robert: My guess is the other MM's had some sell orders and were trying to drive the price down, while PERT had a buy order and was sitting on the bid. Result was a locked market. Once PERT accumulated enough shares they moved off the bid and the other MM's were free to drive the price down.

Do you know what kind of clients usually do business with PERT (e.g. institutional investors?)
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