Saturday, February 24, 2007 9:35:13 PM
for once I will play Devil's Advocate here.
The last time this kind of activity hit BKMP, it could be reasoned that it was done just to make money as people jumped on board in order to get the preferreds. Once the preferreds were issued, the pps went south and stayed there. Now that they are trying to sell the preferreds, the price is rising again. I'd like to think this isn't a planned scam, but it just doesn't feel right. They make all the money back on the preferred and then the o/s is so high we stagnate and have trouble moving up.
Yes, TFN is making great strides and it seems as if US carriage is around the corner.. heck, a sale may be in the works as well... but.... what if they are just using the same method to run the price up just to make the preferreds look more attractive?
Your thoughts?
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