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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI)
IFCI 0.06000.0%Jun 7 5:00 PM EST
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To: Charly who wrote (2950)9/8/1999 12:57:00 PM
From: david james  Read Replies (1) of 3541
 
I have two guesses about the current low price.

1. Institutions may be waiting to see if any of the new shareholders from the S-3 are going to sell down here. Even if everyone is quite confident about the future, there are usually a few that bought a new house, car etc with the money they expected to get from those shares. So we may need to burn through a few shares before heading back up. The low volume is a good sign in my opinion that we won't have to wait that long.

2. I believe that Kealy said in July that they expected to close a line of credit in the next 60 days. The groups that provide the loans are allowed a close look at IFCI's books, so there may be some institutions waiting for that vote of confidence.

Also, I don't suspect the Down Jones article was widely read, so not that many know that with a month left in the quarter Kealy was not asking for any changes to those 15 cents estimates.

David
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