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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Mighty_Mezz who wrote (283)1/26/1997 12:23:00 AM
From: Mike Riley   of 27307
 
A number of people in this thread have speculated that market makers are "manipulating" or "artificially holding up" this stock. As a former market maker, I can tell you with confidence that the idea of market markers conspiring to hold up a stock over an extended period of time is absurd. It is rare for a NASDAQ market maker to hold a position over a period of days, let alone overnight (if he can help it). It is simply too risky, especially in a stock with as small a float as this one. The first rule of trading is this: No one is bigger than the market. Anyone who forgets this will get bulldozed soon enough. So save the conspiracy theories for Oliver Stone's next movie.

A much more plausible explanation for the recent activity in YHOO is that an institutional buyer (or more than one) is accumulating the stock. This is a relatively illiquid stock, so it wouldn't take much to push it one way or the other. A money manager (or more than one) probably thinks that this is a good long-term internet play and is loading up. The current holders (or enough of them) agree enough to hold on (even at these levels) rather than taking profits.

I don't find it hard to believe that this stock is hard to borrow. Remember this is Yahoo, not Intel. There just aren't that many shares out there.

Just remember that "too high" and "too low" are relative terms in the markets. A price is not too high if some one is willing to pay it, nor too low if someone is willing to sell it.
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