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Technology Stocks : WCOM
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To: JDN who wrote (5988)3/14/2000 7:30:00 PM
From: MGV  Read Replies (1) of 11568
 
JD - I think it does get approved - probably with the Sprint backbone sold. I suspect the market expects the deal to close too.

So why then does the market penalize WCOM now? Well, I think the market is short term focused. The deal will not close for another 5-6 months at minimum. The consensus considers it dead money and it languishes at a level at which it was depressed on myopic observations of slowing LD voice revenue growth. Add arbitrage pressure to the equation and you get what we have seen.

Understanding that helps me to have more patience because I perceive fundamentals to be advancing. Nobody can blame you for being frustrated JD. I'm going to hang in and continue to add slowly w/o too much concern of being overweight here because I think downside is bounded at 40ish even if upside is constrained for up to a few more months.
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