Replies to post #2881 on Act Teleconferencing Inc (fka ACTT)

[1manband]

The interpretation of them is what is wrong. The first half of the post is complete nonsense.

The company is very much in business (not great business, as revenue is completely flat for the last 6 years, but in business none-the-less). You have to separate the business from the common stock. There is a business there, but the common shareholders don't own ANY of it, thanks to the massive overhang of the liquidation preference of the preferred stock. People read that and think that if they buy the common stock they are buying a piece of a real company, but in reality they are buying nothing but a piece of worthless paper.

[Emptyhead]

1manband is correct.

The common stock for shareholders has basicly little to no value and as time moves forward it will have less and less value.

Todays action was simply Short covering by one particular market maker.

This MM Shorted a bunch of shares today at .02 and covered an open order for 168,000 shares at .019, he then took the stock higher again to .02 and the increased volume caused a stirr in trader communities watching. Soon the fever was in full bloom and traders jump all over this. Even with this inept action today the volume was pathetic for a 168,000 shares covered.

ACTT will have no staying power up here and will fall right back to .019