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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: JustInTime who wrote (32607)	12/22/1998 5:58:00 PM
From: Lane Hall-Witt	Respond to of 119973

I understand this argument, but it doesn't seem plausible to me. The market shouldn't price UBID at $130+ in one context (UBID's own stock) and $67- in another (MALL stock). It's all just paper, no matter the ticker. The kinds of factors that make more sense to me are: (1) MALL stock tarnished because of the sharp drop a few days before the UBID IPO priced. (2) MALL isn't as easy to move and thus isn't as attractive to traders. Maybe due to MMs. (This seems unlikely since it traded beautifully leading up to the IPO). (3) Relationship between MALL and UBID isn't understood. (This also seems unlikely, since MALL moved so dramatically for the IPO.) It really stumps me: it's profoundly irrational. MALL should be easy money right now, but I'm afraid we'll just see UBID come back toward MALL. This'll obviously bear close watching as the MALL distribution of UBID shares approaches next year.