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

To: Ellen who wrote (6343)	12/8/1998 9:51:00 PM
From: heatseeker	Read Replies (1) \| Respond to of 9391

Here's an interesting article on the AOL stock quote glitch that I hadn't seen before tonight: news.com Here's some of the text.....some of the comments from Jack were a little surprising. "I got 20 calls from investors at my home that night, whereas I had never got calls from them at home," Ben Ezra said. "The investors said they saw the information on AOL." Yesterday, Ben Ezra was hit with investor calls at his office, along with frantic queries from traders who market the stock. "The market makers called and wanted to know what was going on and why people were selling their stock," he said. Shares in the company were listed with a correct close on Wednesday of 1.30, but the volume was reported at 20 million shares when actually 205,400 had traded hands. Ben Ezra said he called AOL and was told that they were aware of the problem but that it could not be fixed for several days. "I'll have to say they were up-front with it and didn't try to dodge anything," he said. But he noted a splash screen to warn investors of the snafu would have performed a better service than placing a notice in the site's help section. "I don't know if I'll sue. I think Americans are a little too quick to sue," Ben Ezra said. "I would think the ones that would sue are the investors who sold their stock thinking it was down below $1." Primrose said she does not know the effect of the site's credibility going forward. "In our notice, we say we want people to check the prices, but not necessarily use it to base their transactions," she said. "We relied on S&P for data and that data was faulty. We took immediate action to correct it." Although figures were not immediately available on the number of companies affected, Ben Ezra said he was told by AOL that a small number of companies had been impacted by the snafu. "This couldn't have happened at a worse time. Our company is healthy, and we're shipping products," he said. The stock has regained some lost ground but is still down about 24 percent, trading around 1.40 this afternoon.