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Non-Tech : Any info about Iomega (IOM)?
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To: Thuc Nguyen who wrote (3456)6/25/1996 5:21:00 PM
From: Matthew Shaun Koch   of 58324
 
On April 15, before earnings, the stock price hovered near 33. How could anyone, Iomega or anyone else, reasonably price the stock at 10-15 dollars (20-30 pre-split)? The company blew away earnings and has had nothing but positive news releases since that time. I am not a professional investor but I don't think it would be ethical/legal for
Iomega Corporation to carry out a secondary offering at 35 if they felt the companies target price was 10-15 (20-30 pre-split). Who are you quoting in terms of the target price? Regarding half-empty parking lots, every 'credible' channel check I can get my hands on says Zips are still flying off the shelves. Iomega's stock price is suffering for a variety of reasons right now, including but not limited to the following:

1) Primarily, momentum players having moved out of the stock due to the recent summer cyclical tech correction and the general slump in the NASDAQ. Tech stocks are anathema right now.

2) Retail investors (a good number with shares on margin) are spooked by the cumulative negative articles in various media. Relatively few institutions have a position in Iomega even now (check your IBD).

3) Those funds that do hold Iomega are window-dressing for the end of the quarter listing of their holdings. Iomega is a dirty name to the security conscious mutual fund investor.

4) Iomega's competition is hurting right now and Iomega is being brought down in sympathy; though I believe that the hurt put on Syquest and Seagate is the result of Iomega's growth. For those who think that Seagate and Iomega are NOT going head to head, your dreaming.

My mantra is similar to the trailer/advertisements for the movie Independence Day which shows the three symbols "ID4". For Iomega Corp. and it's stock it would read, ID15 (the week earnings are released).
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