GREY:ELCGF - Post by User
Comment by
Pennypicker4on Apr 24, 2007 9:29am
191 Views
Post# 12663317
RE: Time to examine what took place
RE: Time to examine what took placeFor anyone to believe that Management knew nothing was happening when in excess of 11 million shares traded in one day and fluctuated between 9 cents and 24 cents ...that person,would on the surface, have to be very naive to accept this at face value.
A lot of people(probably professional traders and/or insiders) made a lot of money at the expense of those who lost a lot of money and were left "holding the bag". If we accept that Management is being "up front" then they should have no problems in disclosing the trades they made (and those at arms length), the information that should be available under "insider trading" ( unless a THIRD PARTY is used for this purpose).
Personally there would seem to be little doubt that a Promotional Company was hired , the result of which would come across as being a ONE DAY PUMP AND DUMP( unless Management can provide a full explanation)in which many made HUGE profits at the expense of those who genuinely believe in what the Company may or may not have.
To protect the naive,the Exchange should without doubt have halted the stock long long before 11 million shares changed hands and the small investor should have some protection so that if there is NO MATERIAL NEWS then ALL TRADING should be NULL AND VOID. IMHO someone had to know a lot more than they're admitting to when ELEVEN MILLION shares traded in ONE DAY !!!
All in my humble opinion, if the Company has nothing to hide then they should not have a problem in providing LOGICAL explanations as to what occured. But at the end of the day, the TSX Exchange authorities should have rules in place to make it mandatory that the Company explain why with NO NEWS, why ELEVEN MILLION SHARES TRADED?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
ELEVEN MILLION QUESTION MARKS!!!!!!
My personal hope is that they do in fact have NEWS that had been anticipated on the day 11 million shares traded, the News of which was delayed for reasons best known to Management but Management should be obligated to provide more information as to what occured..