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Technology Stocks : Ascend Communications (ASND)
ASND 209.30-1.8%Jan 6 3:59 PM EST
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To: Gary Korn who wrote (20857)11/3/1997 10:18:00 PM
From: Larry J.   of 61433
 
Gary,

I am real nervous after today's activity. Just when it looked like ASND was finally going to rally back over $28. The erroneous news wire hit (10% growth for years) and dropped ASND like a rock. Hopefully $26 will offer support, as a price much below this, and I'm a seller (of either ASND shares or the kids to raise cash).

The news release in itself is not particularly concerning, and confirms that the quarter is "off to a better start".

I'm hoping that the 10% sequential quarterly growth statement is clarified tomorrow and that an analyst or two will be able to see past next week or two and upgrade based on current valuation and growth prospects of >40% annually. (not to mention the pending aquisition!).

I just wish that management would not have opened their mouths today period, and allowed a little share price appreciation before dropping todays little bombshell. I still firmly believe that they (mngt)are painting this slowing growth picture so as to avoid a repeat of the 7/29 release that stated "Executives told analysts they predicted broad demand with little price pressure through the end of the year", and that "We're feeling pretty good about what Ascend's opportunities are based on current market demand, Schneider said "If anything, demand's getting a little bit better."

ASND stock rose $6.375 to $53.125 that day. Seems like ages ago, as I feel like I've aged a few years in the timeframe.

Larry

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