Presstek -- Stock of the Decade?? Message Board

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Technology Stocks : Presstek -- Stock of the Decade??

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Sep 29 10:16 AM EST

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To: KKDD who wrote (214)	6/6/1996 5:19:00 AM
From: Gerald L. Kerr	of 11098

Presstek is a small company just emerging from the developmental stage. As such, its PE Ratio based on trailing twelve month earnings is not very relevant to what its current share price SHOULD be. What about all the growth companies currently running at a loss? What's their PE Ratio? Infinity? +Infinity?? Undefined? Negative? What should be the price of a share in such a case? Zero? Or maybe they should pay us for holding the stock? Yes, there is a rational basis for estimating the share price of a growth company based on the present value of the EXPECTED future earnings. It's entirely possible that speculation drove Presstek's share price well above its current rational value. So be it. It has no bearing on Presstek's future as a business. The amazing thing about Presstek is that it has PROFITS instead of a LOSS given that it's just emerging from the developmental stage. This focus on PE PE PE PE PE PE ad nauseum is a clever psychological trick by the bear speculators to save their bacon at the expense of the bull speculators who probably got ahead of themselves and were vulnerable to being spooked by the news that the Howard's are selling some shares. So what? Impact four or five years from now? Zero! History! Question: Are there any investors out there interested in continuing this thread on the basis of evaluating Presstek's future prospects as a business? Or are you all short-term speculators? If so, I'm in the wrong thread and beg your pardon. Gerry

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