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Technology Stocks : LUMM - Lumenon Innovative Lightwave Technology Inc.
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To: Don Johnstone who wrote (1336)12/28/1999 5:15:00 PM
From: opalapril  Read Replies (1) of 2484
 
Sorry, I didn't think I'd implied LUMM needed money.

Perhaps I wasn't clear. It was said that until the 'e' is removed from LUMM, in effect, mutual funds and similar institutional investors are likely to want (or be required) to stay away from it. This was in the context of a discussion about the so-called "January effect" and speculation that post-third-week in January or so things could get very rocky for a few months. Hence, the argument went, institutions will concentrate on buying mostly beaten-down big cap bargains and few of the momentum-driven techs that have already had a great run, like LUMM. The 'e' factor was added as yet another barrier to buying LUMM by big institutions, apparently because many of their charters do not allow buys of 'e' stocks.

If and when LUMM is listed, I agree, it should once again attract serious attention. It is disappointing, however, that LUMM does not issue a public explanation of the 'e' change. They surely know there is confusion among individual investors. Although I have seen messages purporting to relay individual conversations with IR, a public release would increase one's comfort level that everyone is getting the same story and not something adapted to the anxieties of each caller.
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