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Technology Stocks : Ariba Technologies (Nasdaq-ARBA)

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To: William F. Wager, Jr. who wrote (193)7/23/1999 4:45:00 PM
From: ftmp  Read Replies (1) of 2110
 
The overall stock market is down. There is no way ARBA
can still have such a high valuation. Merrill Lynch report
said that they have a 12 month target of 140 when the
stock was at 120s, so the only way people can really
make money is having the stock price to go down more
and back up. They said they expect volatile price
movement.
Large revenue jump could not jump start the stock
price yesterday and continued the slide today. This
indicates the near term movement is downward. High
value IPO stock is in bad shape.
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