This guy doesn't understand wall street

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In summary: It's because the number of transactions would be about 1/4 of the daily average. This wouldn't cause the stock price to go down. In summary, Rev. Ken Hutcherson, pastor of Antioch Bible Church, has announced a plan to affect Microsoft by getting supporters to buy one or two shares and then sell them on May 1. While the plan may not have a significant impact on the stock's price, it is not against the law and may cause some vulnerability in the NASDAQ software due to the high number of transactions.
  • #1
Pengwuino
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http://famulus.msnbc.com/famulusgen/ap01-24-163025.asp?t=apnew&vts=12420061708

Rev. Ken Hutcherson, pastor of Antioch Bible Church in the Seattle suburb of Redmond, said the stock-dumping plan had been his strategy all along.
''You got to find out how you affect a company,'' Hutcherson said, conceding that it would be hard to get people to shun products from companies that dominate the marketplace as Microsoft and Boeing do.
He wants supporters to buy one or two shares over the next few months, then sell them May 1.

Microsoft's average daily volume is ~62 million. Microsoft's shares are up $0.02 in after-hours trading (when the news report came out) :rofl: :rofl: :rofl:
 
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  • #2
Pengwuino said:
http://famulus.msnbc.com/famulusgen/ap01-24-163025.asp?t=apnew&vts=12420061708
Microsoft's average daily volume is ~62 million. Microsoft's shares are up $0.02 in after-hours trading (when the news report came out) :rofl: :rofl: :rofl:

Yes, but is his plan also against the law?
 
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  • #3
JasonRox said:
Yes, but is his plan also against the law?

No, he does not work for Microsoft, a competitor, nor does he work for any financial institution under the governance of the SEC.
 
  • #4
Maybe he should ask God to buy some too.
 
  • #5
JasonRox said:
Maybe he should ask God to buy some too.

God's not that stupid...
 
  • #6
God already has controlling interest. Plus him and his wife and Bono won Person of the Year.
 
  • #7
uhm, he's announced the day to sell them, so every one will expect it
 
  • #8
Plus "1 or 2 shares". Ok so let's say this guy realistically has the attention of 100 people... or well, we'll be generous here, 10,000,000 people. 20,000,000 shares being sold of a stock that normally does 60,000,000 a day isn't going to do much. If everything actually went according to this far fetched plan, at the absolute most the NYSE might do it tell the brokers to bundle the orders or something to make it a little easier on the system. How stupid though! You might end up paying more money on commissions then the stocks are even worth!
 
  • #9
Pengwuino said:
Plus "1 or 2 shares". Ok so let's say this guy realistically has the attention of 100 people... or well, we'll be generous here, 10,000,000 people. 20,000,000 shares being sold of a stock that normally does 60,000,000 a day isn't going to do much. If everything actually went according to this far fetched plan, at the absolute most the NYSE might do it tell the brokers to bundle the orders or something to make it a little easier on the system. How stupid though! You might end up paying more money on commissions then the stocks are even worth!

The question isn't about volume it's about the number of transactions.

10 000 000 transactions is a hell of a lot for one company.

Selling usually causes the stock to go down, so by doing 10 000 000 transactions it should lower the stock. I doubt this would happen though.
 
  • #10
Companies do not do transactions, brokerage houses do. Ironically, the Nikkei crashed a few days ago when it was overloaded with transactions.

I just remembered MSFT is on the NASDAQ which is computerized which means they would indeed be vulnerable to a large transaction problem. The companies price wouldn't be hurt much because this is all public knowledge, but the NASDAQ software might be vulnerable.
 
  • #11
JasonRox said:
The question isn't about volume it's about the number of transactions.
10 000 000 transactions is a hell of a lot for one company.
Selling usually causes the stock to go down, so by doing 10 000 000 transactions it should lower the stock. I doubt this would happen though.
Usually, it's an unexpected sell off of a large portion of stock that triggers others to panic and sell because they don't know what is happening. If everyone knows it's a planned one time sell off, no panic, no triggered sell offs. No big deal.
 
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  • #12
buy ameritrade to take advantage of the number of transactions. and I better get a damn lol for the god has controlling interest joke. Bill gates=god. damn I hate explaining the funny ones.
 
  • #13
Planned sell-offs are normally incorporated into stock prices anyways. Hell, planned large buys are also incorporated into stock prices once it is found out.
 
  • #14
Pengwuino said:
Companies do not do transactions, brokerage houses do. Ironically, the Nikkei crashed a few days ago when it was overloaded with transactions.

I just remembered MSFT is on the NASDAQ which is computerized which means they would indeed be vulnerable to a large transaction problem. The companies price wouldn't be hurt much because this is all public knowledge, but the NASDAQ software might be vulnerable.

This is exactly why nothing would happen.

It's not because of volume.
 

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