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Microcap & Penny Stocks : Ben Ezra Weinstein (BNEZ) -- Ignore unavailable to you. Want to Upgrade?


To: heatseeker who wrote (2917)10/1/1998 12:57:00 PM
From: MoneyBaggs  Read Replies (2) | Respond to of 9391
 
What I have seen so far today is downright criminal IMO. Yesterday's closing price was .69 with an ask of .71. Before the bell this morning, the ask was lowered to .66 for some reason that I can't answer. The first trade was a buy at the ask and of course they showed that as a downtick. They immediately dropped the bid, and it has steadily dropped from there.



To: heatseeker who wrote (2917)10/1/1998 1:01:00 PM
From: Michael Harb  Read Replies (1) | Respond to of 9391
 
There is no limitation on %insider holdings.

"...must be or the company would not really be a public company."

Some companies are not public and are wholly owned by insiders. Companies go public to raise more money from the public for expansion or debt reduction and also to provide themselves liquidity.



To: heatseeker who wrote (2917)10/1/1998 1:06:00 PM
From: ROY DEL  Respond to of 9391
 
I don't remember the exact forms but once you've acquired 5% of the OS of a public company you have to file with the SEC then you have to file of intent to buy or sell. Also if you get more than 10% you have to file that, it's at that point I believe your considered an insider. I'm no expert if someone sees something wrong with this please correct me.

RD



To: heatseeker who wrote (2917)10/1/1998 3:47:00 PM
From: otcbbbaby  Read Replies (2) | Respond to of 9391
 
No limit in insider % at all as long as they announce when they buy and, more importantly, when they sell.

Today is the classic short cover day. Several times today Knight has been on the buy and the ask, once at 42x42 and again at 44x44. They are riding the bid and ask to close off anyone else getting any action and allowing them to cover.

This is textbook.