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This stock does not look great, but the owner has bought about $10,000,000 of his own stock. Would some of you TA people please comment on what you think may be up??Thanks BigDaddy
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Re: MWY - Hugh Insider buying
If you look at just the chart, the recent volumes, and the high shortOriginally posted by BigDaddy
interest, one would conclude that this one is going higher. Especially
if and when the shorts have to run for cover. Nice find.
Unfortunately, the fundamentals are, well, sick. Fasten your seat belt
and keep your finger on the ejection button.
Tim - Retired Problem Solver -
MWY update
Sorry info was wrong, the person who is buying all the shares is Summer Redstone. He now has bought $100,000,000. or 40% of all stock. Has anyone ever seen this happen before and what was the outcome? If he pulls a take over can he dictate share prices to existing shareholders? The company has fired the CEO and replaced him and the new CEO seems to be getting the company back on track. They have doubled the new product to be out this year.Comment
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mwy 3/8/04
Volume was 3x average and 73,400 shares traded after hours. Summer Redstone who owns Viacom sure seems to want this company. Since Redstone has bought so much stock it seems impossiable that he is driving the price up just to sell, or is he? Looking for answers, Thanks BidDaddyComment
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Re: mwy 3/8/04
You may want to think about what COULD happen after he buysOriginally posted by BigDaddy
another 5,000,000+ shares and thus owns more than 50 percent
of the company. If you could read the corp charter, it may then
provide the answers you seek.Tim - Retired Problem SolverComment
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