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Technology Stocks : Cornerstone Imaging (CRNR)
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To: Greg Paquette who wrote (149)4/22/1997 12:25:00 PM
From: tobin sears   of 430
 
Looks like CRNR has been repurchasing stock since Monday(yesterday). Unfortunately, it hasn't done much for the price. This is similar to when they repurchased before the two-week cut-off prior to last quarter's end. The bid came in over the 8.25 bid at 8.50 and the offer peaked at 8.875 and slid down to 8.58 where it stayed for quite a while. A decent amount of shares changed hands, I think around 65,000 x 2 days...something like that, but the price didn't move. I later found out from a friend that they did repurchase at this time--this looks like a very similar situation. I wish we could get some movement. There seems to be some support around 8 but who knows how long this will last when repurchasing takes a break. Then again, continued repurchasing could eventually skyrocket the price. No predictions here.
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