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I stumbled upon this companies web page on Saturday, September 8 and was immediately interested in it because of the products available to assist with year 2000 conversions. I can't find any information on this company. No articles or news. On Monday I asked my broker about this stock and he couldn't find it listed. On Tuesday morning he couldn't find it either. All of a sudden at 9:30 (market open) my broker calls to tell me he found the stock and that it opened at $3.50. As I was talking to him the stock went to $4.00 then $4.24 then $4.50. Finally on a whim I bought a few hundred shares, but not until it hit $4.75. By the end of the day (Tuesday) the sotck closed at a bid of $4.68, but an ask of $8.00! Wednesday the stock closed at the new ask of $9.00, but the bid tightned up to $8.25. Needless to say a few of my friends were watching this mystery stock by this point and several of them got in. Thurday, the stock closed bid of $11.75 and ask of $13.00. Still no information available. Friday, the stock hit $13.75 bid and an ask of $14.50. Does anyone know anything about this stock? I sold half my position at $10.00 and doubled my money, but it just keeps going up - no downticks. Here is the summary of the weekly closes.
DATE BID$ ASK$ VOLUME
09/10/96 4.68 8.00 145,000
09/11/96 8.25 9.00 297,000
09/12/96 11.75 13.00 81,000
09/13/96 13.75 14.50 103,000
Why does it seem like no one is covering this stock? It's seems as if it just appeared from nowhere on Tuesday and has done nothing, but increase in value. Any info would be appreciated.
Thanks.
P.S. Trades under a ticker of CSGI
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