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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: RinConRon who wrote (487731)	5/19/2012 9:09:51 AM
From: TideGlider	1 Recommendation Respond to of 793939

The share price was propped by the underwriters so they could sell more.

To: RinConRon who wrote (487731)	5/19/2012 10:17:25 AM
From: simplicity	4 Recommendations Read Replies (1) \| Respond to of 793939

I'm a bit cynical by nature, and I suspect the share price was being propped to prevent an embarrassing close in the red. I agree. I was interested to see what was happening to the price toward the end, and I was watching the realtime quote for about 5-6 minutes straight. It kept bottoming out at exactly 38, and then bouncing up to 38.01 or 38.02 for almost that entire time. That's an unbelievably long time for a stock to keep hitting the exact same bottom, and a coincidental bottom (the IPO price), too. And, when it had taken a dive just before noon, apparently the same exact thing had occurred, with the pps stopping, and staying, at exactly 38. In this case, you can call me a cynic, too. The odds of that happening are astronomical.