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Biotech / Medical : ACMI - Accumed Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Frank Buck who wrote (485)	11/8/1997 7:38:00 PM
From: Cisco	Read Replies (1) \| Respond to of 1894

Frank, I thought two paragraphs of the Forbes' article was worth coping directly to the thread. ®John Gould and Allan Kleidon in the Stanford Journal of Law, Business & Finance in 1994 analyzed this method of counting volume and concluded that roughly 41% of Nasdaq volume is investor-generated. The rest--59%--is marketmakers trading among themselves, known as "the churn." Double- and triple-counting volume achieves a couple of things. It creates the illusion of liquidity in a stock. It also explains why a single day's trading in a Nasdaq stock may represent a major part of its float. Not a big turnover in ownership but simply trading the same shares several times in the day may have accounted for the bulk of the action.¯ How much of ACMI's volume do you think represents investor-generated trading and how much is "churn"? Cisco