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Technology Stocks : Compaq
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To: Captain Jack who wrote (80202)3/24/2000 5:32:00 PM
From: Andreas  Read Replies (5) of 97611
 
The Non-event of the week is over!

Well folks - as we predicted (at least most of us) the great collosal warning was a non-event. It never happened. It is finished, kaput and left for the dust bin of stock manipulations. It was a fabrication right from the get-go. Unfortunately, we never learn. And it did indeed suck in a lot of small investors who managed to react emotional to their financial detriment. My personal guess and opinion is that a fund with a large short position was getting very nervous as cpq shot up to about 32.50 and was looking at either margin calls or major losses. The solution? They created a rumor - a fraudulent, intentional lie - designed to tank the stock to salvage their short position. And it worked - at the expense of a lot of little investors with neither the insight or stomach to see what was really going on. Well, it's over now. And guess what? CPQ is the same company this evening as it was 48 hours ago. The only difference is, it can be bought for 4 bucks less today. $6.8 billion in market cap. was lost due to someone's manipulation. When will we learn??

So now it's time to look to Monday - The buyers will be back. They will know that the rumor was a hoax and will not want to be left at the station as the cpq train heads off.

In conclusion, I only regret that management did not respond in some manner. I think a carefully worded response (similar to that of lucent) would have been helpful. I respectfully disagree with my friends on this thread that believe silence was the best course of action.
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