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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (391715)	8/4/2009 11:28:08 AM
From: MythMan	1 Recommendation Read Replies (2) \| Respond to of 436258

>>once market is momentum driven<< Hasn't it been there since March? Geeez..I thought he knew stuff.

To: Real Man who wrote (391715)	8/4/2009 1:40:42 PM
From: rogermci®	Respond to of 436258

Check out GGC. A roman candle extraordinaire. The froth has arrived. NEW YORK, August 4 (Reuters) - Chemcials maker Georgia Gulf Corp (GGC:$45.62, said on Tuesday that the New York Stock Exchange had contacted it about a multiday rally in its shares that was apparently sparked by a reverse stock split and debt conversion. On Wednesday, the Atlanta-based company converted senior notes into preferred and common stock as part of a plan to cut its debt in half. Georgia Gulf (GGC:$45.62 also completed a 25-for-1 reverse stock split. Since those moves, the company's stock has risen sixfold. On Tuesday afternoon, the shares were up 90 percent at $45.61 on the New York Stock Exchange. The reverse split lowered the company's number of shares available for trading -- a metric known as float -- to about 1.4 million. When a company has a relatively few number of outstanding shares, even a small trade of a few thousand can sharply affect the stock price. The stock's jump may be short-lived because Georgia Gulf's (GGC:$45.62 board wants to increase the number of outstanding shares to 100 million and convert the preferred shares -- which pay an ever-increasing dividend -- to common shares. "I view this spike as typical stock market irrational behavior," BB&T Capital Markets analyst Frank Mitsch said. "It is not likely to end well for those who have been buying the stock long over the past few days." Georgia Gulf (GGC:$45.62,00$21.67,0090.48%) confirmed Tuesday that the NYSE has contacted it about the price jump, but the company said it does not comment on stock movement. (