MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: mact who wrote (25470)	10/16/2000 12:00:27 AM
From: Duffeck	of 42804

<<but look at HWP's price when they distributed A shares...it didnt drop to acct for the distribution as far as i can tell>> Ahh but it DID drop. HWP distributed .3814 shares of A for each share of HWP after the market closed on Friday June 2, 2000. At the market close on the 2nd A closed at 81.77 and HWP at 142.125. If there were no change in the market value of either A or HWP over the weekend and through the day on the next trading day Monday June 5th than HWP would be expected to close at 142.125-.3814*81.77= 110.94. That Monday HWP actually closed at 120.31. So instead of losing 31.2 it actually lost only 21.8. I think this can be explained by the fact that HWP had just been upgraded on June 1st the day before the distribution day and was on somewhat of a roll having increased in value by 14 on Thursday and 8 on Friday. During the same preceding two days A increased by 8.1. In addition HWP issued a $0.03 Cash Dividend on Monday the 5th adding additional incentive to own HWP stock on that Monday. duff

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