Take a look at these press releases regarding KTEL: I hope he doesn't charge his clients much for his advice. I can't wait until the stock drops 5 bucks and he can reverse his rating again. It is interesting that he is a market maker as well....I am sure he wasn't short then long the stock.
Rory
Thursday April 16, 3:54 pm Eastern Time
Company Press Release
Key West Issues Severely Overbought Rating
HURST, Texas--(BUSINESS WIRE)--April 16, 1998--Anthony Elgindy, Chief Analyst of Key
West, stated today, ''Although KTEL has announced plans to offer their products via the Internet,
this hardly supports an increase of 300% in market capitalization. When the hysteria dies down and
the volume dries up, the stock should settle to a more appropriate range between $5 and $7. This
could happen very quickly based on earning and book value.''
Key West is a Market Maker and currently holds a position consistent with the above rating.
Contact:
Key West Securities, Inc., Hurst
Anthony Elgindy, 817/428-5020
Then not a day later
Friday April 17, 11:12 am Eastern Time
Company Press Release
Key West Reverses Rating
HURST, Texas--(BUSINESS WIRE)--April 17, 1998--Anthony Elgindy, Chief Analyst of Key
West, stated today, ''We have decided that we should reverse our position based entirely on the
market's evaluations of KTEL's competitors on KTEL shares and we believe that, although this
sector is overbought, KTEL shares represent the best value of all the competitors. We believe that
KTEL shares could actually trade in the $30 to $50 range and still remain a good value for long-term
holders. We now rate KTEL as a BUY on market dips.''
Contact:
Key West Securities, Hurst
Anthony Elgindy, 817/428-5020
More Quotes and News:
K-Tel International Inc (Nasdaq:KTEL - news)
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