I'll assume the plaintiffs here are big losers being that Mercator (MCTR)
was in the 140s back in March.
I lump the plaintiffs and the ambulance chasing attorneys here with the lady
who spilled hot coffee on herself at McDonalds and the cigarette smokers in
Florida. They all knew there was risk to assume in the action they took.
As a stock trader myself (and a former practicing stock broker with a Series
7) I pity the fool who held MCTR long in the 140s (149 7/8 was its high
3/7/00) in March and watched it dribble down to 83 by month end or worse
still to 36 by the end of April. Although it is regretful for those who
held it long on Friday 7/14/00 at 62 and watch it drop 36 points over the
weekend and open at 28 on Monday 7/17/00, it is the inherent risk they take
being in the market and also a risk that executive management of a stock
would fumble around like they did.
Caveat Emptor! And let's keep it that way!
-RD
joe mcverry wrote:
> Things are looking worse for Mercator. Several class action lawsuits
> just hit the company. For more info on one of them:
> http://biz.yahoo.com/prnews/000824/dc_cmht_me.html
>
> > Mark Haines wrote:
> >
> > The Mercator stock (mctr) price has dropped this afternoon from $29 to
> > $16. This stock was in the low $60's several weeks ago.
> >
> > Does anyone know if this company in real trouble.
> >
> > Mark Haines
> > Armer & Haines Advisory Group
>
> --
> Joe McVerry, President and Chief Technical Officer
> American Coders Ltd.
> POBox 97462
> Raleigh, NC 27624 USA
> 919.846.2014
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> http://www.americancoders.com
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