Hi, I don't know how much this would add to the mix but I know at least eight people who own GTE , in fact one of them turned me on to the company. I made a few calls today to those share holders and the prevailing opinon (5 of eight) was that they were selling on up-ticks particularly in light of the new pr, because there were no stratellites floating around in near-space as promised.
These folks bought the stock, as did I, in hopes of seeing the next Microsoft or Google. The ones that sold felt more or less that there was more hype than substance to the company because there were focused on that sole aspect of business. You will have to admit it has a certain allure.
Since my initial purchase I have learned about the core businesses and I think the company has a shot at success. In the interim it is a great trading vechicle with this type of volatility. Kind of similar to Intel in the late 1990's
I guess my point is that if 5/8 of the speculative community as a whole is viewing the PR as my colleagues do, that could account for some of the selling pressure. There are lots of single-issue folks out there.
It certainly is odd the way the stock moves and why selling on news makes good sense, as some have suggested. It certainly has been profitable.
dRahme
AI
