Wednesday, August 01, 2007 1:46:59 AM
Previous disgruntled shareholders whom sold at a loss and stay on the board trying to push the PPS lower so they can feel better with their decision saying to them selves.."I am glad I sold"...
The other reason are the traders.. day traders live to get that one point lower (than everyone else) at the same time bid wacking the PPS. With day traders, EVERY point counts... As they say, it is easier to get someone to sell rather than convince someone to buy... That one point made the difference in the day and in the life of a day trader..
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