Specialists,for,OTCBB,amp,Nasd finance, share, loan Specialists for OTCBB & Nasdaq Stocks
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Specialists for OTCBB and Nasdaq CompaniesBy William CatePublished June 2000[http://home.earthlink.net/~beowulfinvestments/] [http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]An orderly market should be the goal of every public company. Sharprises or falls in share price attract regulators. A rapidly rising shareprice feeds upon itself and guarantees a share price collapse. A sharp dropin your share price creates selling barriers. When you attempt to reviveyour strong share price, your shareholders dump their stock. A steadyupward climb, with minor downward adjustments, keeps shareholders loyal.The question isn't how high can you drive your share price? It's how longcan you sustain your current share price?One weapon in your share-price stability battle is the trading ofyour stock by a specialist. Most U. S. Stock Exchanges use a specialist tomatch buy and sell orders to create an orderly market. When buying andselling are relatively constant in any U. S. Stock Exchange company, themarket is orderly. Specialist can be overwhelmed with selling and thisleads to a market correction or a Bear Market. But the matching principleis sound.The National Association of Securities Dealers (NASD) rely upontheir brokers acting as Market Makers to act as specialists. This is thebasis to the Bid/Ask price structure in the OTCBB and Nasdaq Markets. TheNASD policy doesn't work. The Market Makers goal is to make money for their brokerage firms. Share-price stability is counterproductive to profit,because it reduces trading. The Market Maker needs volume to profit from astock. Trading volume infers instability as buyers go into a feeding frenzyor sellers panic. Feeding frenzies and panics kill public companies.If your company trades Nasdaq or the OTCBB, your investor relationsperson MUST act as a specialist for your stock. They must trade your stockto maintain an orderly market in your share price. Your specialist's job isto maintain the current share price, not to drive it up. Your specialistshould have a short term goal in restructuring your shareholder base. Forexample, EFHCF's current share price trading allows speculators to sell ata profit. However, my goal is to replace the speculators with investors whowill hold the stock as it moves up. If I achieve my goal, I'll need lessbuying to sustain a higher share price.Here are five golden rules for specialists seeking to maintain anorderly market.1. NEVER discourage a shareholder from selling their stock. If yousucceed, you are only delaying the sale until your share price is higher.2. NEVER advise anyone to buy your stock. Let buyers make their owndecisions. Your job is to help them buy the stock at the current price.3. Communicate regularly with your shareholders. Keep yourshareholders informed. BUT, understate the positive events and overstatethe negative events about your company.4. Use your shareholder newsletter to regularly remind yourshareholders of your help with selling or buying your company's shares.5. NEVER call a potential buyer. Let them call you.The SEC should change its rules to help specialists. Changes wouldallow public companies to act more effectively in ensuring an orderlymarket in their stock. Unfortunately any rule change that would benefit aresponsible specialist would benefit a crook. The crook would use the rulechange to steal from the public and destroy the public company. At present,the crooks seem to have enough going for them. They don't need moreregulatory help to bilk the public.To contact the author: Visit the Beowulf Investments website: [http://home.earthlink.net/~beowulfinvestments/] Or, visit the Global Village Investment Club Website:[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/] Article Tags: Orderly Market, Share Price, Current Share
Specialists,for,OTCBB,amp,Nasd