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Corrections Corporation of America Message Board

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  • guywithbaldspot guywithbaldspot Jun 17, 1999 5:54 AM Flag

    magic five

    Thanks for the info regarding the "magic" price
    of 5.

    As far as a citable source of what a
    manager can or can't buy, I can only suggest looking at a
    fund's accompanying documentation (i.e. prospectus,
    board by laws, etc.). However, I still don't know if
    you'd be able to find such a restriction

    I do know that one of my finance professors had
    told me (well, the whole class actually) years ago
    that there are some institutional investors that have
    such a restriction, and therefore, some companies will
    do a reverse stock split to raise the stock price,
    which would then make them eligible for the
    institutional investors. I think he mentioned that RJR Nabisco
    did this several years ago.

30.17+0.11(+0.37%)Aug 28 4:01 PMEDT