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Technology Stocks : CustomTracks Corporation (CUST)
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To: AD who wrote (269)5/25/1999 8:10:00 AM
From: Shtirlitz  Read Replies (1) of 2514
 
<< 2) How did it get to a 1/3 institutional ownership?
Usually, if a stock is obscure and fundamentally weak, Institutional ownership shows up
as 2-6%. This one is 1/3 inst.owned.
3) If the float is so big, how could the stock run as it has?
>>

Here is a possible scenario:

A group of crooks (possibly institutional) with deep pockets, who are in the business of ripping of the small guys for a living, picks an absolutely useless POS company. First they accumulate as much of the shares as they can, thereby reducing the float. And then they start creating a hype around it. As a result the stock shoots up on the tiny float. The culmination of the scam is a "Super Duper Strong Buy" recommendation by some bogus analyst. Then the dumping begins ...
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