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Technology Stocks : Convergent Communications, Inc. -(CONV)
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To: Mohan Marette who wrote ()9/15/1999 12:13:00 AM
From: Dave Twibell  Read Replies (2) of 105
 
A quick take on CONV from Steve Harmon I ran across on the CNBC website.

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Money Talk: What do you think are the short and long term prospects for Convergent Communications? I bought on the day that several IPO's came out and thought that this one would take off. It not only didn't take off, but has gone down to
half of what I bought it for that day! Should I cut my losses or do I have something to wait for?

Harmon: Convergent's {CONV} sales are strong, upwards of $67 million for the first six months of this year, gained through acquiring other firms. It provides data and communications services to small- and medium-sized businesses, what I think looks like a sweet spot for growth. At a $314 million market cap, I believe some value may be unrealized with CONV shares. The 52-week high is $28 per share and it trades now near its low of $10.
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