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Non-Tech : Any info about Iomega (IOM)?
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To: RetiredNow who wrote (52002)4/6/1998 11:44:00 AM
From: Rocky Reid  Read Replies (2) of 58324
 
IOM NOW DOWN TO $6 3/4!!

I had previously warned Iomaniacs that is was still not too late to bail in the $8's. Then I warned them it was still not too late to bail in the $7's. Now, I am warning Iomaniacs that it is still not too late to bail in the $6's.

IOM has now broken long term support with its $6 3/4 current price, and is headed lower. Much lower. IOM will be $4.80 soon. Short sellers like myself are absolutely piling on IOM right now as we speak. For a weak stock in an overpriced market, this spells doom.

A rapidly declining company like IOM does not deserve, and will not receive a PE over 24 (which is where the PE will be as 1st Q losses are figures in). Indeed, IOM should count itself lucky if its PE doesn't get peeled down to 12 or so.
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