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Technology Stocks : Covad Communications - COVD
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To: Seeker who wrote (3432)2/2/2001 12:20:34 PM
From: SilasSan  Read Replies (1) of 10485
 
I suspect that those on board who were looking for a buyout are taking their marbles and going somewhere else. Covad responded to the rumors with noises that indicated that they intend to stay in business. That moves the horizon out to 9 -- 12 months (traders leave, investors stay). They have the money to last that long and covering the retail side of DSL as their wholesale customers fall out is a good strategy. According to Covad (a recent interview with the CEO, I think) demand for DSL has not fallen off (but it hasn't increased significantly either). Since the market isn't going to fund expansion it's time to concentrate on making money. They say that's where they're headed. So, I expect COVD to hover somewhere around book value until the next rumour or speculative wave.
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