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Technology Stocks : PCCG - Profitable, small float and goes Internet with IM.
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To: Arrow Hd. who wrote (41)6/22/1999 3:03:00 PM
From: Arrow Hd.  Read Replies (1) of 125
 
Interesting post over on Yahoo regarding an article from the Riverside Press-Enterprise titled "Computer company sees stock reboot after turmoil". (FWIW, I am not familiar with this paper). Some of the more interesting comments:
--"We've been undervalued. The underlying strength is there." comments Don Johnson, PCCG CFO.
--Company officials speculate that the stock's recent recovery is due to anticipation over a print advertising campaign the company plans to launch in late July to publicize its Web site.
--Company officials attribute the rocky ride to three things:
------A glut in the hard drive market that resulted in the company's revenues declining 33% during the first quarter of the year.
------The end of a contract in March with the company's market maker, RichMark Capital Corp. and its public relations firm, Summit Marketing and Public Relations Inc. Johnson said the company was dissatisfied with both companies' services.
------The stock may have taken a hit because of repeated anonymous Internet postings accusing the company of shady dealings with Chinese companies and financial mismanagement. "The poster is raising the specter of wrongdoing," said Johnson. "It's absolutely nonsense."
The company assumes the poster to be a former employee.
The article goes on to discuss some of the situations that you have read about from ElliotNess 99. "How do you deal with this stuff?" said a frustrated Johnson, adding that the company is considering legal action should it confirm the identity of the author.
Are the Internet postings grabbing the attention of regulators? the article asks at the end with a final comment that the SEC never confirms or denies whether it is conducting an investigation.
It is worth flipping over to Yahoo to read for yourself.

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