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Edgewater Technology Inc. Message Board

  • cscubed cscubed Aug 19, 1999 4:35 PM Flag

    Up 10% ???

    No news. Good Volume. Does anyone have any insight. I was preparing to sell (worried about next Q's numbers).

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    • AGED was persistantly the best offer as you can
      see on Level 2. Evertime they sold their offer
      (usually 5000 shares) they would offer another 5000. They
      did let it float up a bit until other sellers
      appeared. Then they dropped the offer until it was the
      lowest. During the last couple hours they started
      pounding bids out. They would fill the bid and then offer
      at the bid. They kept aggressively doing this at
      ever lower prices. AGED was the market maker. We don't
      know who the actual seller was. It could have been
      (probably) a fund selling thru AGED or some of their
      clients/brokers. It was a lot though. I'd say MOST of today's
      volume. I think SEM works there - perhaps he can shed
      some light.
      That said,it really doesn't matter in
      the long run. But it was disappointing and cause for
      nervousness on the eve of the earnings report. Nice bit of a
      rally for a few hours - too bad someone had to get so
      medevil on it. It was AGRESSIVELY sold.

    • "AGED was stumbling over themselves to sell stock
      today." Where did you get your facts from? Was it a sell
      through AGED or the company itself? I know that they show
      no change of opinion as of right now, but if they
      are selling off they have an opinion. Please show
      your verification.

    • AGED was stumbling over themselves to sell stock
      today. Strange. PGA announced and had decent results -
      too bad it isn't spilling over to STAF. It sure tried
      to. At least PGA's decent results should mean STAF
      will be OK tomorrow as well. Anyone know if the conf.
      call will be available somewhere?

    • Stocks, bonds and any other information on how to make smart investments decisions can be found at www.cnnstocks.com , the only web page you need to manage your portfolio.

    • I disagree with the analyst who made the $14-$17
      takeover benchmark. Based on the current stock price,
      however, that might be what someone would offer. But, if
      you look at what Olsten got from Adecco, that
      valuation would place STAF around $25. Wishful thinking,
      right? Well, that's really what it's worth. Frankly, I
      don't suspect any of the insiders would be willing to
      tender at anything south of $20 - if at all.

      SEM

    • Here is the gist of the complaint I sent to the
      SEC (they supply a form through their web
      site):

      "It seems to me that the trading of StaffMark (STAF:
      Nasdaq) is being manipulated. For much of the past year
      (and most of September), the peak price has often been
      reached within the first hour of trading, then the price
      usually trails off, never returning to the high for the
      rest of the day. Sometimes the peak is reached at the
      opening bell, and is well above the previous day's close.
      Almost always, however, the price immediately drops off.
      Recently, major purchases have done little if anything to
      bolster the stock price (last July, for example, someone
      purchased 190,000 shares, an entire day's volume, all at
      once, but the ask price didn't budge), while at other
      times, the sale of a few hundred shares has brought the
      price down by 1/2 or more. At still other times, large
      purchases have been immediately countered with small,
      piddly sales of 100 or 200 shares to bring the price
      back down. Still other times, blocks have been bought
      at, say 8.12 (bid 8), then almost immediately another
      purchase was made at an ask price that was lower than the
      previous bid! Sometimes the price has even gone down when
      no shares were traded!

      I should note that the
      company has a forward p/e of 5.5 at the present time,
      although none of the quote services seem to reflect this,
      despite the purported efforts of the IR department. A
      non-recurring charge was made at the end of 1998, which
      apparently is still being figured into the current p/e. Of
      the 10 analysts covering the stock (most of whom are
      also market makers), 5 rate it only a hold, but these
      same analysts were rating it a buy (or better) when
      the price was 35, the p/e was 30, the company was
      smaller, and revenues were nowhere near the $1 billion+
      they are now.

      I should also note that two
      earnings warnings have been issued this year (due to
      uncertainties over Y2K), but this year's revised estimates
      (1.35/share) are still close to last year's numbers, and are
      much higher when last year's non-recurring charges are
      included."

      I also mentioned some lingering questions I have
      about the events of this past March. For more details,
      please go back to the messages around
      #975.

      Hopefully, this information will be sufficient to at least
      spark the SEC's interest. If they ask for specific
      dates, I will cite a few. I also think it would help if
      some of you other honest shareholders would voice your
      concerns

    • I'm very glad to see that you filed a complaint
      with the SEC. I thought about it but felt I didn't
      have all my ducks in row to do so - What did you file
      and on what basis? There has to be some manipulation
      going on - the trading pattern over the last several
      weeks has not varied - good buys and the ask remains
      the same - one small sell and the price goes down -
      but to coordinate this data in a proper manner to
      make a complaint to SEC....I'm really curious as to
      how you filed your your complaint. Please enlighten
      us. Thank you.

    • Thanks for your suggestion. I am looking forward to hearing from the SEC about my complaint.

    • Guys, I've just visited your board (hi Scorp, I
      miss the Buick!) and saw SEMs note on possible M&A. I
      know from a VERY reliable source that a very large
      player (one of the biggest, with similarly big $$) in
      this field is looking to purchase running & profitable
      concerns in US and Europe.

      I honestly don't know if
      they're looking at these guys but these is def some M&A
      activity in this area.

      Yacht

    • In most cases, a short-term drop in stock price
      would be no big deal. However, in the case of STAF,
      there is cause for concern, IMHO. First of all, the
      price has been on a slippery slope downward for more
      than a year now, despite the company's growth and
      profits. We are now at less than 20% of last year's high.
      Secondly, there is obvious downward manipulation of the
      stock price going on. Thirdly, a ridiculously low
      buyout estimate of 14-17/share has been made by Bank of
      America. While this price is insulting to most of us (and
      many if not most of us would lose money selling at
      these prices), the people and organizations that have
      been manipulating the stock price (and who own a large
      proportion of the shares) would come out way ahead.
      Therefore, it is conceivable that they would OK a buyout
      deal that would stick a lot of us honest shareholders
      with big losses.

    • View More Messages
 
EDGW
6.87-0.01(-0.15%)Sep 30 4:00 PMEDT

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