LaBranche & Co.- "LAB" Message Board

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Technology Stocks : LaBranche & Co.- "LAB"

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To: freeus who wrote (17)	8/31/2000 7:34:31 PM
From: Sir Francis Drake	Read Replies (2) of 29

You are right of course, but as I said: the immediate impetus for the stock going up was takeover speculation. As such, it couldn't last. Getting the downgrade was the "wake-up call", and hence the drubbing. Sad. The stock really SHOULD be trading at a p/e of at least 25, but I guess that's just too much for the current climate. ABN Amro decided to downgrade it at the climb point, presumably figuring they've punctured the "takeover" bubble. It remains to be seen how this plays out, but I'd bet that as long as the general market doesn't dive, you'll see LAB back up after some consolidation, which it was due for anyhow. Were it not for the takeover speculation, you'd have seen the stock consolidate in the $18-$22 area for a time... that was interrupted by the run to 33. Now it'll take some time, but ultimately, $33 and beyond! All IMO. Morgan

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