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Technology Stocks : Newbridge Networks
NN 14.21+1.7%Nov 28 9:30 AM EST
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To: gbh who wrote (14107)10/30/1999 1:13:00 PM
From: akmike  Read Replies (2) of 18016
 
Gary-Why would major buying commence with the stock in a free-fall? After the selling abates and the pre-announcement period has passed, we will see if there are buyers around. As to the balance sheet issues, they are related to the production cycle woes and the key here in my view is whether we have continued to move in the right direction this quarter. It will be a miracle if everything is already "fixed" in that regard, but the investing world will focus on the trend and be comfortable if we continue in the right direction.
As the Bagnall article a couple of posts back points out,NN has struggled and has become a "show-me" stock for institutions. It certainly appears to me that Lutz has done a lot of things right so far and the potential is there to start climbing. We need to be aware that for the foreseeable future each quarter will be deemed crucial by the investing community and volatility will reign.
As someone pointed out when we were around 30, if we should fall to below 20 the lack of performance and the intrinsic value would augur for someone to attempt a combination. We have no feel for whether that may happen but we have dropped to the level where the downside is pretty limited and the upside perhaps only a press release away. Big institutions have bought a less-compelling set of facts.

Best regards,

Mike
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