After Logan went back to his desk, Eteo tried to strategize for the next few days while based on the faint hope some good result might come out of Richard’s trip. He looked at the depth of the market for the shares in question and noticed a few anemic bids on the buying side, very small sizes all the way down to 25 cents, but plenty of selling orders from 52 all the way up to 73. That meant a good-sized selling order would take the price down to 25 in the blink of the eye. He called a couple of clients and advised them to buy a few more shares just to average down a little and make it easier to get out on the first recuperation of the price but got nowhere. He couldn’t tell them he wanted to support the price at this level to help the promoter get some new investors. That was something the clients wouldn’t understand. He could only try to convince them using the excuse of averaging down but he couldn’t risk pushing them, and he couldn’t blame them for refusing. The shares hadn’t done much for them. Why would they want to invest even more?
He called Logan back into his office.
“Who can we approach to promote this a little? Who do you have who might be interested? We can base our argument on the prospect of new brokers coming in.”
“I don’t know, Dad. We could burn a few people with this. You know that.”
“Give it some thought. Perhaps we could offer an incentive.”
“It would still be a hard sell. When they look at this market, they’ll see weakness. Who would go into that, incentive or not? And incentive from whom? From us? I wouldn’t risk it for someone like Richard.”
Logan sounded disappointed by his father’s willingness to support Richard Walden when the older man knew very well that this company wasn’t likely to go up any time soon.
“What have we done with the disposal of some of the real estate company’s stock? Have you talked to anyone?” Eteo asked, changing the subject to one they were both more comfortable with.
“Yes, and we got a few approvals. I already have some orders filled and some still in the market. I’m bidding for some new shares already for the clients I’ve already sold.”
“Very good. Let’s focus on that for today and tomorrow.”
Logan went back to his desk, and Eteo turned his armchair toward the window. He gazed at the blue sky and leaned his chair back a little, closing his eyes and traveling back to a place where the sun was bright and hot most of the year and where he used to go swimming as early as April. He would go to visit his brother soon. He would spend a month or more over there. Logan could look after the clients.