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Strategies & Market Trends : Temp. Home of Cooperative Group-Trading
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To: Das Boot who wrote (720)6/6/2000 12:10:00 PM
From: Street Hawk   of 790
 
MIPS being pumped shamelessly by Wall Street.

SS in the 39s as this POS's main business is struggling.
Lehman's coverage and initial pump job is the last straw that will break this junk's back.

Here's an excerpt from CNet.com yesterday about MIPS:

"Three Wall Street firms sang the stock's praises this week, noting that the company is
taking action to generate more revenue from certain business segments as other
segments dry up. They also said the stock is undervalued relative to similar
companies. The company develops technology that enables a microprocessor to communicate
with its environment, and also designs processor chip systems. MIPS receives royalty
and licensing fees from companies that use its technology, which include makers of
set-top boxes, handheld devices, printers, and home video games system like
Nintendo 64 and Sony PlayStation.

On Wednesday, Chase H&Q analyst Eric Chen reinitiated coverage of the company
with a "strong buy" and a price target of $46.50.

The next day, Credit Suisse First Boston analyst Erach Desai reiterated his "strong buy" rating and set a price
target of $65.
Among the risks facing the stock, Nintendo will phase out MIPS' technology in its popular game consoles. Currently, MIPS receives the bulk of its revenue from Nintendo."


As other segments dry up? Their main business involves making chips for video game makers like Playstation and Nintendo. They are fading.
Guess what? These calls by the investment banks with new crazy targets also coincide with their dumping of stock on Level II! FBCO and HMQT have been dumping on the ask on this institutional pump and dump ALL DAY. Now Lehman is joining in on the action.

This will be back to the teens when all the hoopla and hype fades from memory.
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