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  • dennis12716 dennis12716 • Aug 7, 2001 7:37 PM Flag

    spread

    why such a big spread in the bid ask ?

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    • wilburd1 wilburd1 • Aug 7, 2001 9:06 PM Flag

      Buyers are being cautious in the wake of the
      shocking price swoon yesterday. Only 5k shares
      were dumped, but there were no bids at that
      moment. If we were on the NYSE, the specialist
      would have contained the move by taking some
      inventory until buyers came back. Now, buyers
      will not extend beyond bids backing them up.

      Sellers, on the other hand want the same prices
      as they could get preswoon - hence the spread.

      • 1 Reply to wilburd1
      • humility_rules humility_rules • Aug 7, 2001 10:17 PM Flag

        shares yesterday were "dumped" makes me wonder if it was an attempt to "surprise" shareholders by pushing the price down towards the $5 level...loosening up the "overhead supply" a bit more. I'd speculate that there is still several days worth of short interest to be covered and with the volume in the doldrums and the stock price so "cheap", loosening up the overhead supply might prove prescient. But then again, perhaps it represented capitulation . Either could bode well for WORK's share price; if only we knew. Are you seeing any bids per level II via Solomon Smith Barney?

        W_i