Summit Technology (BEAM) Message Board

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Biotech / Medical : Summit Technology (BEAM)

BEAM 22.70

-6.5%

3:53 PM EST

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To: Carl R. who wrote (1318)	8/8/1999 11:52:00 PM
From: Ken W	Read Replies (2) of 1386

Carl: "the stock falls for a while during the secondary and for awhile thereafter" Exactly. The market does not like "secondaries" as they are dilutive to the stock. As to the hoarding of cash, if the company was fundamentaly sound (lost money) in the last Q and trading at 42 times this years trailing earnings and a negative growth rate eps growth rate into 2000, then they would already have large amounts of cash or a large credit facility. They have neither thus must use stock as cash. This is what has gotten the internet stocks into trouble and may get this one in trouble too. Ken

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