Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: ahhaha who wrote (1822)	10/13/1999 3:30:00 PM
From: PaperChase	Read Replies (1) of 15615

Mr. ahhaha. Do you have an updated opinion on GBLX's newest planned acquisition? I'm disappointed that a huge amount of cash is being used in this transaction. I viewed GBLX cash holdings as a saftey net to deal with debt payments over the short term. Seems the debt rating agencies will notice this too. I've traded Gblx profitably on the long-side and recently exited with a nice profit. From my posts a couple of days ago you will see I criticized the price of GBLX as going up too fast, at one point making the FRO stock worth $80 on a non-converted basis. I also criticized the spending binge. When I read about how much they overpaid for the next acquisition, I exited the stock in a heartbeat. It doesn't really matter because the momentum players could care less about fundamentals. The long distance market is sick and I wonder about the more conservative QWST not taking a hit around earnings time. I know you said to stay on the sidelines around these stocks but I like to tempt fate. <g>

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