Bid.com International (BIDS) Message Board

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Microcap & Penny Stocks : Bid.com International (BIDS)

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To: Gordon Gekko who wrote (24194)	4/22/1999 12:03:00 PM
From: mccowaner	Read Replies (2) of 37507

I called the Nasdaq yesterday about the sudden drop in the price of BIDS (without any bad news) and they have referred the matter to an analyst to investigate. They do not give out any information regarding their timeline or process of investigation. They become very concerned about sudden drops or rises in stocks without news and their systems are set to pick up such changes. He said it would probably have hit their system even if I hadn't called because it had already dropped over 50% in just a day and a half of trading. What I did find out is that part of the investigation is to investigate all trades and who made them and when. I have no idea what the findings might be as they do not publish anything until long after the fact. In the US, trading is prohibited by underwriters and management for at least 6 months after an IPO, and that includes anyone who bought in early as part of the IPO package. I do not know how these rules apply to a new listing on the market as opposed to an IPO.

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