I share your frustration with TLC's stock price.
Unless there is actually a fundamental reason for the decline (which, thus far, has been hidden from shareholders), the situation should be attributed to poor management of investor relations. This afternoon I sent the following email to Scott Murray (TLC's CFO) with a copy to Mike Perik (TLC's CEO). They did not respond. Perhaps they don't care.
---------------------EMAIL TO TLC ------------------------
Investors are probably very confused byTLC's stock price.
Today (10Mar97) investors made net purchases of at least 100,000 shares at a steady pace at an ask of 9-1/4 and bid of 9-1/8. Then at 3:15 p.m. on a single downtick of 1000 shares, the specialist dropped his bid to 9. The next trade which was seven minutes later was 500 shares at 9, and he dropped his bid to 8-7/8. After three more minutes, someone sold 1600 shares at 8-7/8 and the specialist dropped his bid to 8-3/4. This sudden drop in the stock's value was, to say the least, disconcerting.
To build investor confidence, such unnecessary volatility should be avoided, if possible. It would be very nice if TLC could release a statement that would reassure investors that there is no bad news pending (if that is the case). |
