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Technology Stocks : MWAV-M WAVE COMM
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To: Alastair McIntosh who wrote (29)2/9/2000 8:52:00 PM
From: Tom Hua  Read Replies (1) of 443
 
Altastair, another stock that fits your description of low tech/low margins is WRLS (which BTW is located near MWAV). It traded at P/S of 0.6 all along until WS developed a love affair with it last Fall. Today, it's trading at P/S of 8, a 10-bagger in 3 months.

MWAV has a rare advantage in its low low float. Take out Heartland Advisors/Heartland Value Fund's tightly held shares, the real float is less than 800k shares. Stocks are like commodities, prices are influenced to a great extent by the law of supply and demand. When WS discovers this stock, there just aren't enough shares to go around. That factor alone provides a nice premium over what one might perceive as fair value. The low float of internet stocks is one of the main reasons that drive stock prices into cybersphere.

Regards,

Tom
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