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Technology Stocks : PCCG - Profitable, small float and goes Internet with IM.
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To: Jules B. Garfunkel who wrote (71)12/6/1999 7:35:00 PM
From: Arrow Hd.  Read Replies (1) of 125
 
Jules, my apologies but I have been out of town for the past week. I think if anyone could work the Chinese market it would have to be Jack Wen. One of my associates spoke with the company recently and they still intend to do the spin-off. I still have my entire position and would consider adding at the end of the year. I think the float is less than a million. I know where a chunk of it is sitting right now and it will not be moving until after the shareholder initiatives are executed. I think the selling pressure may have been coming from the investment banker who PCCG fired this year. Undoubtably they were unloading their position since the business relationship was severed. They still are looking for a new PR firm and an investment banker so when that gets taken care of and the new year cuts off the tax selling we should see better days. Also, I believe they were looking at a Hong Kong banker to do the IPO but now may be talking with a New York firm which gives far better local visibility. Anyway, once they start to solidify these projects and there are details to deal with there is reason to generate visibility. With visibility comes momentum and with the lack of float we should get price attrition. But the timing is key. False starts cause lost interest. That is the message we are telling them.
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