[Am-info] MSFT Stock behavior

[Erick Andrews]

On Tue, 23 Jul 2002 19:36:25 -0400, John J. Urbaniak wrote:

>Something very strange happened to Microsoft stock today.
>
>I was watching CNBC about 10 minutes to 4:00.  The announcers were
>saying that MSFT was down about $3.50 to $42- something which was a new
>52-week low for the stock.
>
>At the same time they were saying that, the ticker showed MSFT down
>$3.48 to 42-something, then several trades went by showing the stock
>down only 6 cents at 46.00.  There was no gradual uptrend from the lower
>value.
>
>At the close, the stock was back to 42-something.  There was no gradual
>downtrend, just the lower value.
>
>The announcers remarked about this *strange* behavior.  Maria Bartiromo
>and the other two announcers noted the behavior and commented on it.
>Stocks just don't act that way.
>
>Question: Was Microsoft trying to manipulate the price of its stock so
>it wouldn't show such a big loss at the close?  Did they have a patsy
>putting in buy bids at $46.00 right before the close?  If so, this is a
>felony.
>
>Time will tell.
>
>At any rate, it didn't work.  MSFT closed at a new 52-week low.  It was
>listed as the most active NASDAQ stock and brought down the Dow, the
>NASDAQ average and the S&P 500 significantly.
>
>It also made Microsoft employee's stock options even more worthless.
>
>John

Despite the market downturn lately, it DOES sound strange.

Maybe, with all their cash reserves, they've found a new way to 
book the cooks.

-- 
Erick Andrews