Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: who wrote (1932)	5/23/1996 10:23:00 PM
From: Gary Layton	of 58324

To All: Here is a article from the WSJ with an interesting theory on why the price dropped today. Dow Jones Business News -- May 23, 1996 Iomega Corp. Shares Down 4% After Runup On Acer News Dow Jones News Services NEW YORK -- Shares of Iomega Corp. (IOMG) fell 3.9% on heavy volume after setting a 52-week high as market players realized that a deal with Acer Group will only involve computers sold outside the U.S. Yesterday, Iomega announced that Acer Group would include the removable Zip drive in its new AcerBasic personal computer line to be launched in June. Today, the information that the line was not scheduled to be initially sold in the U.S. spread throughout Wall Street and hurt the stock, according to some market sources. An Acer contact told Dow Jones the new product would be sold in China, India and some other countries. Iomega, of Roy, Utah, said earlier today that Packard Bell Electronics will start shipping a model from its home PC line that incorporates the Zip drive. Other market sources also noted Iomega stock has been moving strongly since the company's stock split 2-for-1 on Tuesday when the shares closed at 43 3/8. Earlier, Iomega shares set a split-adjusted 52-week high of 55 1/4. More recently, Iomega shares fell 2 1/8 to 51 7/8 on Nasdaq volume of 18.9 million shares, compared with average daily volume of 5 million.

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