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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

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Aug 15 5:00 PM EST

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To: signist who wrote (16432)	10/23/1999 10:21:00 AM
From: signist	Read Replies (1) of 42804

Sycamore Networks Shares Soar Almost Fivefold After IPO Trading Begins By Per H. Jebsen Sycamore Networks Soars in First Day to $14 Bln Value (Update6) (Updates with closing stock price.) Chelmsford, Massachusetts, Oct. 22 (Bloomberg) -- Sycamore Networks Inc., which makes equipment that lets fiber-optic networks carrying Internet traffic operate faster, increased almost fivefold in its first day of trading. Shares of two-year-old Sycamore rose 146 3/4 TO 184 3/4, giving the company a market value of $14.42 billion. Sycamore closed with the biggest market value ever achieved by an Internet- related company in its first day of trading, according to CommScan LLC. ''Sycamore could revolutionize the way optical networks are built,'' said Tom Nolle of CIMI Corp., a Voorhees, New Jersey- based consulting firm that specializes in telecommunications. ''Its technology reduces the cost of building an optical network while increasing capacity at the same time.'' Companies that assist in providing high-speed Internet access have been among the hottest offerings this year as investors look for ways to profit from the growth of the worldwide computer network. Sycamore is the first company to go public that focuses on providing a way to increase the speed of fiber-optic networks, which are already faster than copper telephone lines. Sycamore's 386 percent gain was the fourth-biggest first-day gain ever. The shares traded as high as 270 7/8. ''This is where you can get the best connectivity,'' said Richard Begun, who helps oversee $1.2 billion at Orbitex Management Inc. and bought Sycamore shares in the IPO. ''The benefits of fiber-optics become more apparent -- that's why investors are just dying to get it.'' quote.bloomberg.com

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