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

To: Rock_nj who wrote (66885)	4/8/1999 10:46:00 AM
From: Teri Garner	Respond to of 119973

SEIB flying, THIN FLOAT...

To: Rock_nj who wrote (66885)	4/8/1999 10:47:00 AM
From: Straight Up	Read Replies (2) \| Respond to of 119973

FNHC!!!! Go go go!! at 8 already!!!! Straight Up

To: Rock_nj who wrote (66885)	4/8/1999 10:47:00 AM
From: ilh1	Read Replies (1) \| Respond to of 119973

Internet hoax sends technology stock soaring 8.12 a.m. ET (1213 GMT) April 8, 1999 NEW YORK (AP) — The stock price of a technology company soared after someone posted a bogus news story on the Internet that it was being acquired by a rival for more than a billion dollars. The hoax, which reportedly is under investigation by federal regulators, underscored concerns of investors that markets are vulnerable to stock manipulation and other fraud via the Internet. The stock of PairGain Technologies Inc., a Tustin, Calif., maker of communications equipment, jumped more than 30 percent Wednesday before the takeover report was debunked and the stock retreated. It closed Wednesday at $9.37 1/2, up 10.3 percent, or 87 1/2 cents, as Nasdaq volume surged to 13.7 million shares, compared with a daily average of 2.1 million. The perpetrator set up a personal World Wide Web site that imitated an Internet page of Bloomberg News to announce the sham deal. The report spread to a Yahoo! message board and then to other sites frequented by stock traders. Bloomberg, PairGain and the purported suitor — ECI Telecom Ltd. — all said they had nothing to do with the report, which the perpetrator may have used to boost the stock price in order to unload shares at a premium. "This was totally and completely made up,'' PairGain Chief Executive Charles Strauch said in today's editions of the Los Angeles Times. "As straight as I can say it, there is absolutely nothing going on. Period.'' The Securities and Exchange Commission declined to say if it was investigating the episode. But Charles McBrayer, PairGain's chief financial officer, said SEC and Nasdaq officials told him they were looking into it, The New York Times reported today. --------------------------------------------------------------------------------