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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: J Gunn who wrote (1630)9/1/1999 6:45:00 PM
From: oilbabe  Read Replies (2) of 15615
 
In response to the final sentence of your last post,
"There's nothing wrong with a company's wanting to support its stock price from the perspective of a shareholder, of course, but only if purchasing stock is really the best long-term allocation of capital."

I can't imagine how GBLX could NOT think buying its stock at these prices would be the best long-term allocation of capital. If they have any doubt that the value of their company will be appreciably higher in 6-12 months, then they need to seek different employment!
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