Friday, August 6, 2010

Next IPO Scam (Part 2)

In Part 1 of this post, last week, I mentioned about the unusual activity in the newly listed share. Volumes had gone crazy and the share price was jacked up to double the IPO price. I mentioned that the indicaters pointed to circular trading.

The share price has expectedly gone down to below the IPO price. Wonder how many small investors have burnt their fingers. Wonder whether the manipulaters have managed to make their money - or whether greed will make them go for an action replay!

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