Similar train squad" rates are being paid to a couple of undrafted rookies who have been on their respective teams' NFI account since the begin of training camp.



Running behind Jonas Gray tore his ACL during his final season by Notre Dame and signed a three-year, $1.44 million contract with the Miami Dolphins on May 4 Gray namely earning $5,700 per week meantime on the NFI account and returnedbuy nfl jerseys cheap to train two weeks antecedent Undrafted neophyte aggressive tackle Markus Zusevics received a $13,000 signing bonus aboard May 10 from the New England Patriots, who are paying the former Iowa standout $5,700 per week for he recovers from a torn pectoral muscle is he suffered during the 2012 scouting combine.

Falcons safety Matt Hansen ruptured his patella tendon meantime working out among late June and nbuy nfl jerseys cheapamely never earning a salary from the team meantime he rehabs his injury.

Two More Players Earning Increased Salaries On Practice Squad

Last month, Shutdown Corner reported is the New England Patriots are paying practice squad spacious recipient Greg Salas , and is the St. Louis Rams were paying increased salaries to practice squad offensive linemen Brandon Washington and Ty Nsekhe. Two more practinfl jerseys factoryce squad players can be additional to the additional salary"account.

According to NFLPA base salary information, the Washington Redskins are instantly paying exercise squad aggressive tackle Tom Compton, a 2012 sixth-round elect out of South Dakota,because whether he were on the 53-man roster. Compton had been earning $5,700 per week forward the club appended namely to $22,941 per week among mid-October. http://clarenovascotia.com/doc/Last week, the San Francisco 49ers increased the exercise squad salary of train squad aggressive tackle Al Netter, paying him the $22,941 he'd acquire because if he were on the 53-man roster. Undrafted out of Northwestern, the 49ers gave Netter a $7,500 signing bonus on May two.

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临时停牌对新股定价有利吗

发布者: admin 日期:2009-07-12 作者:admin 查看评论

张东臣

7月10日,作为国内A股市场新股发行制度改革后的首次上市,两只中小板新股桂林三金和万马电缆将正式登陆深交所。
此前,深交所也于7月2日发布了《关于完善中小企业板首次公开发行股票上市首日交易监控和风险控制的通知》,其目的是为了严格防范中小板IPO股票上市首日交易风险,维护市场秩序,保护投资者权益。
根据《通知》,当中小板新股上市首日盘中成交价格较当日开盘价首次上涨或下跌达到或超过20%时,深交所可对其实施临时停牌30分钟;首次上涨或下跌达到或超过50%时,深交所可对其实施临时停牌30分钟。临时停牌期间,投资者可以继续申报,也可以撤销申报。
与过去相比,新的《通知》取消了换手率达到80%时,深交所发布风险提示公告的规定。另外,过去有50%、90%、150%、200%四档临时停牌,停牌时间分别为15分钟、15分钟、30分钟、30分钟;过去的表述是盘中涨幅与涨幅之差首次达到,新《通知》的表述是盘中成交价格较当日开盘价首次上涨或下跌达到,计算方式有所变化。
可以说,新《通知》是为适应新股发行制度改革而进行的修改,临时停牌的机制并没有发生根本变化。那么,临时停牌真的对新股定价有利吗?它真的能防范交易风险、维护市场秩序、保护投资者权益吗?这其实是非常令人质疑的。
有实例为证:2008年9月19日,川润股份、水晶光电双双登陆中小板后遭游资爆炒。其中,发行价为10.44元的川润股份以13元开盘,随后连闯四关,显然有庄家利用停牌机制做高股价,进行了收集、拉高、停牌、再收集、拉高、停牌、拉高、停牌、拉高、停牌一连串操作,直至37元收盘,涨幅254.41%。其中,18.5元到37元的涨幅基本上是几笔大单就拉上去了,总共四个小时的交易时间光停牌就停了将近两个半小时。水晶光电当日的表现也是如出一辙,发行价15.29元,开盘价20元,庄家利用停牌机制拉到了55.3元,涨幅达250.16%。
当然,庄家最终也并未得逞,因为川润股份、水晶光电随后分别出现了十个和九个跌停板,股价又被打回原形,这或许与当时的低迷市道有关,也可能是深交所的后续监管所致。但是,这至少表明新股上市首日的临时停牌给股价操纵者提供了可乘之机用很小的成交量就能在较长时间内把股价维持在相当高的价格上。这种长达十几个交易日的无效率暴涨暴跌对新股计入指数的价格也会产生影响。
在笔者看来,采取临时停牌的做法来抑制新股上市首日的投机行为,无异于是缘木求鱼。因为,新股上市首日不设涨跌停板的初衷就是让多空双方通过真刀真枪的充分博弈寻找合理定价。临时停牌只会缩短交易时间,牺牲市场效率,对防范股价操纵而言起不到任何实质性作用,却反而容易被操纵股价者利用,降低其操纵成本。
从新股上市首日定价机制的本质来看,潜在操纵者无非有两类:一类是一级市场的利益相关方;另一类是短线游资。这两类潜在操纵者所倚重的也都是上市首日股价无涨跌停限制这一特权。前者更倾向于高开盘、高收盘定价,后者更倾向于低开盘、高收盘定价,而临时停牌机制显然对二者都有利无弊。
从临时停牌的作用来看,无非是警示风险、强化公平披露、保护中小投资者。那么,对首日上市的新股来说,有必要以停牌来警示风险吗?有信息需要临时披露吗?中小投资者与那些职业的操纵者相比,谁更有时间盯着盘面?交易暂停而申报、撤单继续,是否会制造新的信息不对称呢?


温馨提示:本站文章内容仅供投资者参考!并不能作为投资建议,风险自担!

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