Sector,
That calculation was one I used for IDTC and their spinoff of NTOP.
Here is the first 3 months of NTOP. With 56M shares it had a market cap at its high of 4 Billion 760
07/30/99 5,875,500 32 27 27 3/8
08/31/99 79,122,000 89 1/4 15 85
09/30/99 43,315,100 87 51 1/8 52 1/8
Here is IDTC's corresponding numbers for the same period. As you can see, IDTC with 36M shares never exceeded a market cap of 1B 152M during the same period.
07/30/99 32,738,700 25 1/8 18 1/4 19 3/4
08/31/99 71,106,100 32 1/2 13 1/2 29 5/8
09/30/99 25,442,900 29 1/8 20 1/2 20 15/16
Worse than that, since then IDTC has sold 14.9M shares to ATT for $75 and their stock still trades in the low 30's even though the company still owns 10M shares of NTOP, has no debt and does a billion per year in business. |
