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Technology Stocks : 3Com Corporation (COMS)
COMS 0.00130+1,200.1%Nov 7 11:47 AM EST
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To: sunfish who wrote (40936)3/2/2000 3:47:00 PM
From: miklosh  Read Replies (1) of 45548
 
Sunfish. Looking at todays coms chart, what you say makes sense. Why else would coms hold steady until 11:30 and then fall off a cliff? Either a price of much more than $100 for the palm ipo was already factored into coms price (which I doubt), or like you say, the street is confusing the ipo and ex dividend (distribution) date.

If people posting on this thread are confused about the distribution date, imagine what the average investor who only listens to cnnfn or bloomberg must think.

The MM's are having a field day with arbitration and it's in their best interest to see that this confusion sustains itself as long as possible, so that the magnitude of the discounted price of coms will be painfully slow to narrow.

EB didn't help much either, with his winning smile and blathering about tax consequences.

I still think the street will take a little longer to digest the math, and if palm goes down x dollars over the next while, coms will go down (x + y) as a result of public sentiment that coms is a DOG.

All this adds up to a buying opportunity for coms assuming 2 things:

1)palm is valued above $38 on distribution

2)EB can be trusted to spin off shares as planned at 1:1.5 ratio.

#2) worries me.
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