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Technology Stocks : WebTrends Corporation [WEBT]
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To: brk who wrote (609)2/27/2001 5:32:33 PM
From: critical_pants   of 614
 
I don't really understand why WebTrends allowed itself to be purchased by/merged with NetIQ. It seems a little fishy to me and with the precipitous drop in stock price, I can't help wondering if something wrong with WebTrends to begin with was behind the merger decision.

Whatever the reasons, we don't know much about what is going on... the decline wasn't triggered by an earnings shortfall, a guidance warning, or anything that I know about now. The lack of news or explanation is the most frustrating part for me.

I can't believe that WEBT didn't write an escape clause into the merger contract. If true, that is also fishy. So many tech stocks have gone into freefall this year that I find it hard to believe that WEBT management wouldn't have been on guard against this unfavorable contingency.

The JP Morgan comment hasn't been forcefully retracted. The investment community may very well believe there is more behind the comment than we are so far being told. I had hoped clarification would come today from JP Morgan, or the management of either WEBT or NetIQ. Their response so far hasn't been satisfactory.

I'd think that this was just another example of a tech company getting a long-needed share price haircut. But I think, based on public information, that WEBT was pretty fairly valued in the 25-30 range. Maybe that should give me confidence, but in this market, I'm really worried.
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