SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?


To: johnlag who wrote (6058)2/22/1999 12:32:00 PM
From: keith massey  Read Replies (1) | Respond to of 24892
 
Just before REL was halted there were NO bids on the board. First time I have seen that on a stock of that size.

Best Regards
KEITH



To: johnlag who wrote (6058)2/22/1999 10:27:00 PM
From: Serge Collins  Respond to of 24892
 
Johnlag: Pertaining to REL, as I stated in post #6013, the TSE blundered in allowing this stock to ever resume trading with a cloud like this hanging over the company. The insiders had an advantage over shareholders and investors alike, and that advantage is not suppose to exist in a public market. That's why there are regulations, to prevent that sort of abuse.



To: johnlag who wrote (6058)2/23/1999 11:43:00 AM
From: mick  Read Replies (2) | Respond to of 24892
 
I doubt zero for REL is the case. It is more likely a few panicked investors.

If you look at the trading, there was a nice orderly procession taking the stock down to about $ 1.94. The bids dried up with a stink bid of $ 1.51. Somebody at DS panicked and matched the bid with 2000 shares (chicken feed).

Was looking for a $ 7 buy out, but the way things went, I will be lucky to get $ 3 (which I still make some money).

As far as I can tell, they still have roughly 200 M$ in assets (don't know if they have/should be written down). They appear borderline on being able to meet the debt obligations and its the bearish sentiment that drove the stock down to were it garnered my interest.

Cheers