Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Lost1 who wrote (27987)	4/13/2000 7:09:00 PM
From: Cheeky Kid	Read Replies (1) of 63513

What happened to TERN? - - - - - - - - - - NYT says Terayon hit by short attack TERN Thursday Apr 13 2000 The New York Times reports in its Thursday edition that Terayon Communications Systems is a young modem company with a hot new technology, ripe for hype, whose details are understood only by engineering experts. Reporter Alex Berenson say its stock has tripled since October and is valued at about 40 times last year's sales, despite losing more than one-quarter of its value on Wednesday in a stomach-churning decline. It is no wonder that short-sellers, who bet against companies they think are overvalued, believe they have found an easy target in Terayon. On Tuesday, a conference call conducted by Terayon executives to discuss first-quarter earnings turned into a surreal free-for-all as short-sellers using fake and juvenile names repeatedly attacked the company's honesty. On Wednesday Zaki Rakib, the Terayon chief executive, said he felt "sadness that a conference call of a public company could be turned into a circus," especially after a quarter when the company posted very strong results. To be sure, Terayon is not a stock for the faint of heart. After soaring from below $50 in early November to a high of $285.25 in early March, the company's stock has plunged. (All figures are in U.S. dollars.) It closed Wednesday at $119.75, down $43.

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