For those of you who are interested
The Vancouver Sun today published a
follow up story to my article
"Manchester Inc. - Perfect Stock or
Perfect Crock."
---
Manchester's rise a Twilight Zone mystery
"
David Baines, Vancouver Sun
Published: Saturday, October 07, 2006
Is Vancouver-originated Manchester Inc. "the perfect stock or a perfect crock?"
That's
how one Internet poster framed the question last month when he looked
at Manchester's stock chart, which has been rising in such a
surrealistically systematic manner that it might easily have come from
the Twilight Zone, rather than Howe Street.
Since it started
trading on the OTC Bulletin Board in the United States in November
2004, Manchester's stock has risen nearly every single day, regardless
of trading volume or news.
Some days, trading is substantial. On
Friday, just over one million shares changed hands. News, on the other
hand, has been scant. In fact, the company doesn't even have a
business. It is simply proposing to acquire one.
Still, the stock
has managed to steadily levitate during the past two years, from
pennies per share to $7.95 US at Friday's close. With 33 million shares
outstanding, the company's market capitalization now exceeds $260
million US.
"It's an investor's dream," Konrad Imielinski, a
resident of Princeton, N.J., remarked on the website Seeking Alpha,
which publishes stock market opinion and analysis.
"I have been
following the mysterious Manchester Inc. for quite a while now and the
brilliancy of its performance is dumfounding."
"The stock seems
too good to be true. May 15th was the last day prices had a negative
downtick. The daily pattern in which this stock continues to progress
is shocking; it moves in penny-like increments."
THE REST CAN BE READ ON PDF