Posted on 01/04/2005 8:50:24 AM PST by MeneMeneTekelUpharsin
Mirant Shares (MIRKQ) took off in morning trading on the eve of a hearing on the Shareholder Committee's proposal to have a meeting to determine the longevity of the Board of Directors and CEO. Volume is over 5 million shares traded with a price high of .49 this morning.
Well, it's been a long wait...almost two years.
Don't want to leave you out.
Good luck. Seriously.
Thanks...don't believe it's ALL luck. I do believe we have equity.
You should have equity. Whether the power players allow you to have any when this is all over is the unanswered question. I'm keeping my fingers crossed for you.
You got to wonder about insider trading when you see price run ups like that.
A 20% increase in value in one day generally indicates that. But it might also be daytraders playing the upcoming shareholder meeting with a penny stock. If it sells off by the end of the day, that's probably the answer.
I became involved in MIR several years ago. It has, to date, proven to be the single worst investment I have ever made. I am still sitting with 24,000 shares with an average buy-in price of about $2.75. Anything I get out of this will be ... found money. Good luck to us all.
Lucky you...to only have 24,000 shares tied up.
Please explain how you see this as insider trading. The board members and CEO own very few shares of this stock. Whenever they buy stock, it must be reported. No reports of insiders buys lately. In fact, the CEO is leaving...or so it has been reported.
You may be right about the daytraders running it up. We'll see what happens this afternoon.
There is a rumor of a possible short-squeeze, which may account for the little MIR bubble today. Maybe, someday, one of these bubbles will persist more than a day or two.
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Jan 4, 2005 (JAGfn.com via COMTEX) -- (MIRKQ)- Rumor that the company is on a threshold securities list that will force shorts to cover on unsettled positions.
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Click here for SEC statement of short sales rule.
Lo, I have tried to inform some here for almost TWO years and have suffered nothing but ridicule and a bit of dishonor. Hide and watch, wait and see. Naked shorts are about to have their day.
I would be grateful if SOME information were not posted... :-|
I'll echo what Dog Gone said about the 20% price spike within a couple of hours as being suggestive that the "market or a group of insiders" is speculating on meeting results creating a favorable impression on the market.
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