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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Fun-da-Mental#1 who wrote (3185)8/11/1999 4:14:00 PM
From: Kailash  Read Replies (1) of 3431
 
Hi Fun - I decided to plonk down some before the close - this is getting to be ridiculously oversold. We had a nice spurt of buying just before the close and the price is too good to be true.

I agree it's anomalous but the last quarterly report was managed to take out as much bad receivables as possible and no upbeat news were given at all. The new CEO just said, "Additional information on the strategic actions we are implementing to return Glenayre to growth and profitability will be communicated within the next 60 days."

That's a recipe for a selloff, which is what we got.

I see we ended the day at no change - we'll turn around somewhere around here.

Kailash
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