My Closing thoughts...if you trash bb stocks,just look at SKYM & AAGP!
Here's another company the feds might take a look at: Active Apparel Group Inc., a direct mail retailer of sports fashions for women. Between the start of the year and Christmas Eve, this stock sank from $3.50 to $1.25 per share. Then, on Monday morning at 7 a.m. ET — two and one-half hours before the start of trading — the company put out a press release announcing that it would begin selling its wares over the Web. By noon the stock was selling for $15.
Data provided by MSN Investor
It would be interesting to know if anyone associated with the company — or who knew of the pending press announcement — was among those who bought stock the previous week, when an average of about 30,000 shares per day changed hands. On Monday an unbelievable 15 million shares were traded — i.e., 500 times normal volume.
The feds might also take a look at the trading in a company called SkyMall Inc., another $2-plus stock for most of the year. SkyMall sells consumer goods via catalogues such as the ones you find in the seat-backs of airplanes. On Dec. 9th the company announced that it would begin selling its wares over the Web as well, and this $3.80 stock became a $5.87 stock. Then, for no apparent reason, on Monday SkyMall became a $35.50 stock on volume of nearly 26 million shares; a week earlier daily volume had fallen as low as barely 50,000 shares. Why? Most press accounts have pointed to investor excitement over reports that retail business was brisk on the web this Christmas.
Be that as it may, it would be interesting to know whether any of the Web chat room operators who were touting SKYM on Monday were front-running their recommendations.
AUTHORITIES REMAIN SILENT
The reason these questions are important is because no one in a position of authority seems to be asking them. I remember once, several years ago, visiting the NASD's market surveillance operation and watching a large room full of people do nothing but watch CNBC to see when Dan Dorfman, the then Wall Street stock columnist, would come on the air with news of some deal. When that happened, everyone would sit bolt upright and instantly begin staring at their computer monitors in hopes of detecting irregularities in the trading that followed.
Nothing even remotely like that seems to be going on now. But it should, before the fire that is burning through the Internet sector consumes the whole of Wall Street. The stock market is ablaze and the firemen are just gawking at the spectacle.
----------------M$ney |
