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Technology Stocks : Rockwell-Spins off Conexant (CNXT)
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To: Lou D who wrote (746)3/2/2000 7:36:00 PM
From: gpowell  Read Replies (1) of 2013
 
This bubble in the stock price started when CNXT was added to the sp500, while also garnering attention from Gilder. Neither of these events will do anything for the long-term prospects of the company. Therefore, the price is coming back down to expectations.

I'm not convinced that the story is getting better. At the last conference call CNXT announced that sequential revenues would be dropping about 5% - long term this is probably inconsequential. Nevertheless, perhaps the latest spike up has convinced otherwise long-term holders to sell into the run-up, taking profits, and then hoping to buy back cheaper, later.
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