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Showscan is a company that is engaged in the production and distribution of movie-based entertainment attractions shown in large-screen, special-format theatres worldwide. Like the Back to the Future ride at Universal Studios (which I am not sure whether that is theirs or not, but, it gives you an idea of what they do). The stock just hit it's 52-week low on 4/3/98 (.50/share). The reason for the drop, was Showscan's failure to merge with Iwerks. The Iwerks shareholders voted down the deal. The CEO of Showscan, has said that they had back-up plans just in case the merger failed. Since 4/3/98, the stock has climbed back to .75/share, bid/ask is currently 11/16 x 13/16. The company has had a number of contracts so far this year, which should help their bottom line in their next financials, due out in May, IMO. The 52-week high is 3.50/share, back on 8/5/97. So there is room to grow, IMO. I am looking for a nice rebound on this one to somewhere over $1. During the week before the failed merger news, the share price was 1 3/16, so it seems possible to me. Any comments or opinions on SHOW are welcome. |
