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Friday, August 27, 2004 2:51:00 PM
This board and many others like it are replete with investors who believe that by buying the stock of a company they are supporting the efforts of the company and, in fact, playing a role in the eventual success of that company.
No matter how many times they are told that they bought the shares from other investors, they seem to feel that the company somehow benefits from their involvement.
Some of those who understand the relationship still feel that by buying the shares they at least contributed to the support of the share price. Unfortunately they fail to take into account the fact that most of them bought their shares with bids set at lower than the asking price at the time of their purchase, so, to some degree, they were responsible for a decline in the value of the pps on the completion of the transaction.
I find it ironic that many of the most vocal supporters are quite happy to report that they are about to 'load up the truck' and have a bid in at some value less than the current bid/ask spread. When the market makers 'see' all of these bids below the present spread, and subsequently move the bid and ask down to that range to 'make the market' where all the potential activity is, they are reviled by the faithful for manipulating the pps, but no one ever faults the 'truck loaders', who are supposed to be supporting the company but are instead contributing to it's decline.
regards,
frog
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