Conducting massive profits
Investors rack up the gains in superconductor stocks
By Shawn Langlois, CBS MarketWatch
Last Update: 5:20 PM ET Feb 28, 2000 NewsWatch
Your thoughts
Could the newfound superconductor buzz get any louder?
Companies positioned to capitalize on the growth of the wireless world are all the rage lately. More specifically, superconductor stocks, with their eye-popping gains have taken center stage on the Street, and Monday's buy-fest only fueled the enthusiasm. But are these scorching stock rockets getting a little ahead of themselves?
Not in the least! According to investors on the message boards, all this hubbub is just the snowflake before the snowball.
The major players -- Superconductor Technologies (SCON: news, msgs), Conductus, Inc. (CDTS: news, msgs) and Illinois Superconductor -- have all enjoyed obscene gains this year and more folks are stepping up to take notice. The few, the proud, actually hitched their wagon to this sector before the masses caught wind, and these risk-takers have been racking up some gaudy returns.
On Raging Bull, thanks to posts like this way back in December 1999, JoeyStockMarket was getting some serious cyber-recognition for his prescient stock picking:
"I have a 'pound the table, strong, JSM buy' for all of you, your friends, and family ... I am very excited about my recent investment in Illinois Superconductor (ISCO: news, msgs) This is like buying a company for pennies before they go public. We all know that the wireless Internet is the future, and Japan is introducing this 3rd generation wireless, where the internet merges voice, data and streaming video. I wouldn't be surprised if by January and February, when Japan orders these filters, if we're around $10."
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02/28/2000 2:23:00 PM ET
That little nugget surfaced when the stock was trading a notch below 40 cents a share -- you can bet that ol' Joey was grinning ear to ear when ISCO nudged past $34 early in Monday's trading session.
But he wasn't the only one enjoying the moment -- Shiner25 was right there with him: "SCON, CDTS, and ISCO are the players and although it is amazing what they've done, we are just at the beginning -- the technology these guys are implementing will help the 'wireless revolution' occur and we will be rewarded handsomely for it."
Any incomprehensible pop is bound to bring out the short sellers, and there were party-poopers aplenty on Yahoo. JJ2000 couldn't believe his eyes when he took a gander at SCON's meteoric rise: "Way, way overvalued! A good indication of pump and dump. Now the pump part is very well done, and it's now the job of the dump part."
Well, JoeyStockMarket and the gang weren't about to listen to a few naysayers -- if they were prone to buying into the pessimism, they never would have held the stock to this point.
But the question remains: Can these high-flying stocks keep up the frenetic pace? As is usually the case, surfing the boards is bound to give you the answer you want to hear -- be it bullish or bearish. |
