Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: Land Shark who wrote (12359)	5/7/2000 6:55:00 PM
From: Maurice Winn	Read Replies (3) \| Respond to of 29986

Yields, I was wondering about the SEC and price manipulation. I believe that 25% short interest is price manipulation. When somebody sells a stock short, they know that that puts downward pressure on stock. By moving my stock to a cash account, that will prevent them doing that. It's interesting and potentially a LOT of fun. It's pointless though in terms of the long run price because after all the fun is over, buyers and sellers will put the price right back to where they think it should be. So shorts artificially lowered the price. Maybe a bit of fun would artificially raise it again, albeit temporarily unless the bottom had indeed been reached in which case it would be simply a rapid acceleration upwards instead of a little more gradual trend. It would also be some fun in that it would give an indication of just what impact the SI community can have on a stock. A bit like it isn't illegal for S&P 500 to decide to 'list' QUALCOMM, which they did, knowing that the decision would cause a rapid price rise. QUALCOMM even sold shares on the basis of the increased demand to the tune of $1bn. We will simply have an "SI Listing Date". So, what I'm thinking might be fun is to arrange just such a short squeeze. I've never seen one and being curious about many things, I'd like to see how it works out in practice. Since it's all open to the public, it can't be considered unethical in any way. Certainly no more unethical than selling shares one doesn't own. Anyway, I wouldn't be selling my stock, or buying any, nor dealing with related parties to profit from the event, so if I organize it, I don't see how I'd be able to be accused by the SEC of any breach of their rules. I'd like to see them try!! They'd have to prosecute Alan Green$pan for trying to manipulate market prices using interest rates. They'd have to prosecute everybody who recommends any course of action to improve financial positions. It would be a market stabilizing event, rather than disruptive as it would remove a risky overhang in the market and shares would be bought and sold on a more normal 'value' basis instead of the speculative basis of the current Globalstar share price. I have a date in mind, but I'd like to see what happens after the meeting before taking it further. I don't see anything wrong with fun. Shorts do like roller coaster rides and they could have a LOT of fun too. It's an opportunity begging for something to be done as not many companies [not that I have any idea really] have 20% or so short interest. It's a potentially fun internet event and would show some of the 'Wall Street' people are apparently allowed to publish articles about companies, either positive or negative, knowing that it would move the price, and they don't even bother making sure their stories are factual. Maybe stockholders would NOT want out on any spike! Maybe they'd think "Hey!" [That's what everyone in USA thinks to start] "If it's going up, I might as well ride it to the top and if the top might be $100 or even $200, I'd quite like to go there. Anyway, it looks as though the company WILL succeed, so why sell?" If would help Bernie and co raise cash with less dilution of existing shareholders and I doubt that shareholders could be blamed for reducing price manipulative short seller impact on their stock!! Meanwhile, it's fun to see Globalstar SI stream at number one in SI and that might attract some day-traders, interested in a quick buck on the short squeeze. All part of the fun. Thoughts anyone? Mqurice PS: No bailing out yet, you shorts. You have to try to ride it to zero!!! You'll hear the date at the same time as everyone else, so you don't need to act now. We don't want a pre-emptive short retreat! We can watch the short interest and see if any of you bail out before the fun begins. You all know this turkey is going to zero, so why miss out on the profits? You can laugh at the silly short squeeze and enjoy the profits to zero. Maybe even short some more if the stupid squeeze did cause a temporary price rise. SurferM, you might have sold too soon! Better reload. The 'Whoopsie' management cost you incurred is fully discounted so you might as well be in near the bottom. As long-time readers know, I've been unhappy with pricing plans for at least 3 years. I still am. But unlike Iridium, Globalstar can reduce the minute prices to whatever it takes to make the minutes sell. The problem is the greedy service providers who for some weird reason want to charge $1.50 a minute. They must be thinking they will run out of handsets at that price. There's no evidence of that so far. Minute pricing [country, long distance and roaming] is a mess and obviously grossly over-priced [by Service Providers in particular].