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Microcap & Penny Stocks : Sound Works (SOWK)
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To: im a survivor who wrote (176)2/13/1999 1:43:00 PM
From: Turn Around Picks  Read Replies (1) of 582
 
Hello KG4....T.A.P. will be on the phone Monday (they are working 2/15)with SOWK upper management to discuss another clarification as I suggested Friday.It seems they need to notify all brokerages not just the ones making a market in the stock or the confusion will continue next week as well as many brokerages are showing a split is scheduled 2/16.Mr Cornwell has stated there will be no split and the adjustment to price was made early Friday morning. The price did go down quickly after open on Friday on very little volume and did bottom out almost 4 times less than Thursdays close, which would indicate the brokerages who make a market in SOWK stock made the adjustment.WHy did'nt they adjust to the anticipated .60 mark if this is the case adds to the confusion of the news that the other brokerages have of a scheduled split for 2/16.Perhaps the demand for the stock did'nt warrant any further adjustment downward,afterall this is an Internet stock in the same arena as CDNW & KTEL so demand will more than likely be much greater than supply especially with the low float.Long term holders should not be worried if they bought in by 2/11, even if there was a split from current level, which Mr Cornwell states there won't be and management controls 80% or better of the O/S shares so who is more qualified to say, SOWK would more than likely bounce back from people buying at this hypothetical 2/16 split price.T.A.P. will post results of this Mondays conference call as soon as possible as well as email all T.A.P. members! members.xoom.com Join Free!
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