Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 60.36

-7.0%

3:59 PM EST

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To: JP who wrote (5149)	6/10/1999 4:02:00 PM
From: Maurice Winn	Read Replies (2) of 29987

ICO on Hold JP, <"I sold my ICO stock and will only buy it back if GSTRF is (very) successful. I think ICO will watch GSTRF carefully to determine if there really is the market we are all hoping for.> Now that you mention it, that's another way of demanding a special general meeting of shareholders for ICO shareholders to show that they would like ICO to be put on hold for a few months. The problem with it is that shareholders would be selling their shares at a very low price and if Globalstar is a success, then they would be unlikely to be able to buy them back at the same price. It would be better if ICO simple told shareholders they'll put it all on ice for a few months. The shares might even go UP if they did that as people would have less fear of increasing their losses by holding the stock. It's the fear of loss which drives a stock down. If the spending stops, the losses stop, so the price drop would slow. The current price doesn't have much success built into it. It is already at a wait-and-see price. Meanwhile, the Zenit failure fades more into the background as another launch sees half the Globalstar constellation safely in space. 24 satellites now is space and only 2 more launches for the fun to begin. In years to come, the Zenit will make for great survival stories for those who rode the Long Term Capital Management derivatives-based 50 year financial panic roller coaster. The next constellation is unlikely to have costs like that built into it. [Famous last words!] Maurice PS: Meanwhile, ICO trading volume continues at very low levels [less than $1m traded on a $$multibillionsystem, compared with Globalstar's average $180m a day lately]. That means the ICO price is not a very good guide to what the shareholders are thinking. They are not all rushing out to buy what one would think is a bargain to them!

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