SFLK SOFTLINK INC. Should the SEC halt this one? Message Board

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Technology Stocks : SFLK SOFTLINK INC. Should the SEC halt this one?

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To: M. Dion who wrote (4)	2/10/1999 10:03:00 PM
From: Eric Fader	Read Replies (4) of 48

Thanks Mike... the company, presumably at the direction of the PR firm, not once but TWICE pre-announced on the wires that they'd be releasing revised financial projections. Here's how it works, IMO: Announce unaudited and "forward-looking" numbers that you may have pulled out of the air, fine. Announce that you're ABOUT to do it, a little sleazy. Put out TWO press releases within a week saying, in effect, "pay close attention because we're about to release possibly unsupported hype!" - now you have the SEC at your door. IMO, MMs sold the stock short all the way up from 2 to 8 (normal, legal practice, maintaining an orderly market), counting on the inevitable pullback eventually, but then the stock held in the high 6's despite a shakeout attempt or two. "Damn, what do we do?" "Complain to the SEC so the price gets knocked down and we can cover lower." SEC "inquires" and tells the company it wants to see the projection release before it goes out. END OF STORY, if not for Flodyie and his pals. ALL OF THE FOREGOING IMO!!

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