TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Katie Kommando who wrote (42628)	4/12/2000 2:21:00 AM
From: TraderGreg	Read Replies (1) of 150070

You might want to look at AMMB, also trading at near 52 wk/all-time low. It probably isn't worthy of GL status yet, but it is trading at around 10% of book value and under 20% of TANGIBLE Book Value. A mortgage company that has come on hard times of late, it has been liquidating non/poorly performing elements at nearly 100% of balance sheet value(exclusive of good will). It has plans to concentrate on commercial finance. The threadsters on Yahoo are split of course into three camps--liquidation, as in fire sale, is one group; targetted deleveraging to clean up balance sheet for the future is the second group; and grooming itself to be acquired is the third group. Most of the posts on the Yahoo thread are o/t or negative/cynical, but some information can be gleened. Latest research report from Freedman Billings says stock can be worth as much as $3.50 to an acquirer. This was glumly reported, as hopes had been for it to go off at $7. AMMB currently trades at 1 1/32 x 1 1/16. As bankruptcy is highly unlikely, downside from here is minimal. TG

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