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Technology Stocks : Ascend Communications (ASND)
ASND 196.81-4.9%3:59 PM EST
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To: joshi who wrote (26278)12/5/1997 11:47:00 AM
From: Sowbug   of 61433
 
Note that yesterday Wells Fargo jumped 10% (closing up 5%) on the following comment by its CEO, paraphrased:

"I'd consider a buyout of Wells Fargo."

Note that ALL officers/directors have fiduciary duties to consider such offers, so all he really said was "I am complying with the law."

So our 10-15% jump today, when compared to the Wells Fargo "incident," is consistent with pure hype. I'm not saying the rumors are false, but we haven't passed the dumb-dumb range of wild speculation yet. If it went above 35, then I would reconsider.

Sold 1/2 my position at 30 9/16....... Sowbug
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