| An SI Board Since December 1996 |
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EIC |
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Any one follows T:EIC and M:EIC? Its IPO at 1994 is $10.00 and its highest is $18.00 (?). Now is $4.05 - $4.25. Is it bottom fish price? Its better to get the answer from Midland!!! Its core business is designs, manufactures, markets and supports software and hardware of WAN and ISDN. The underwriter block is Midland. Each time when block trading by Midland the trade volum suddenly increased. Before the Midland made block trade the price of EIC was deep depressed. Midland plays big role. e.g. 24 May, 1996: 260,000 shrs at $7.00 traded by Midland, then 30 May, 1996 the price of EIC at TSE reached $8.10 and at ME $8.00. However it pulled back to $6.50 at 18 June, 1996. On 19 April, 1996 Midland block trade 308,600 shrs at $6.25 and 100,100 shrs at $6.00 and at 26 April, 1996 at ME Midland block trade 545,600 shrs at $6.00 then on 30 April and 1 May the price reached $8.50 at both TSE and ME. However the price dipped to $6.75 again on 9 May, 1996. You can trace these activities by Midland on 12 March, 22 March, and so on. I could not make conclusion that any manipulation of stock price involved by Midland but at least it is interesting phenomeno. After I questioned these activities nearly half year I do not see any such activities by Midland again. I also heared a Midland person become director of EIC who possesses only 1000 shares of EIC. Small shrimps of stock marcket of ours should closs wartch these activities of BIG FISH in the see of stock marcket. Otherwise we are the food of these big fishs. Is it true or not? Happy new year to our small investors!
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