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To: SLSUSMA who wrote (1411)3/3/2000 11:54:00 AM
From: Green Receipt  Respond to of 3070
 
true. a prime example was IINN back when it's symbol was ININ. They did a 100 for 1 split. All of a sudden volume jumped. Then a new company came on the scene, took ININ, and the penny stock symbol became IINN

I watched the stock go from $4 to $12 (presplit) when I got out. I trippled my investment in about 10 days or so.

However, the people that lost out were the ones who bought into the hype .... The price dropped dramatically when the company issued a PR that said they were going to double the number of cigar vending machines. (with its high market cap) the floor fell out because they were going from 12 vending machines to 24 (if i remember right). The price of the stock divided among the 24 machines caused the price to dig a deep hole in the ground.

Now its becoming more of a legitimate company

quote.yahoo.com

Don't let the volume fool you. its the afteraffects of the 100 to 1 split.

and it was interesting to look at the insider sales back when it's symbol was ININ.... insiders were selling chunks off making $2000 a pop and having no shares left in the company.