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Technology Stocks : PairGain Technologies

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To: BWAC who wrote (36208)	3/31/2000 10:36:00 PM
From: Larry J.	Read Replies (1) of 36349

....time to resurrect the thread? Is everyone ok?? Our "new parent" rips (recovers) an 11.2% gain (53 7/8 + 5 7/16) near it's recent high on 3.4 million shares and not a peep. I've been watching the spread narrow for about the last 5 or six sessions from over $5 to ~ $3 until today when PAIR didn't want to follow ADCT's lead (PAIR 18 11/16 + 15/16 / 5.2%). The implied conversion price for PAIR is now @ $23.16.....a very decent "cushion". Also making PAIR a preferred way to own ADCT if you're buying to hold the stock. (same as USW is to Q) Both deals seems "airtight". I'm certain we'd be @ $15 or worse without ADCT propping up our share price. PAIR has been the most resilient holding in my portfolio (knock on wood) through the carnage of the week. I've rendered my PAIR shares and still # 1 $$ holding as "untouchable" (not for sale)for the forseeable (future. have a good weekend....we'll come back and battle on Monday! Larry

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