Sometimes, once in a blue moon, I can call things right rather than wrong....
Wednesday, February 14, 2001 12:09 AM ET
To: Gregory Mullineaux
From: Sig
Greg:
I looked thru the insider trading for Scmr. Conclude this tech bubble was much worse than ever thought.
I mean they sold this %^&t to everyone...
MIT
Bechtell
New Mexico
Virginia
Columbia
Harvard and on and on, more than 400 various ones.
108 pages of proposed sales, at about 9 per page- 180 proposed sales since Nov30 th
Greenspan had been right all the away, could not let this misuse of investors funds in the hope and hype of
techmania to continue.
They had a market cap of $54 bil, now its $6 and they have no earnings.
Bankrupsy, I see, and when shares hit $11 it will sink like a rock as people bail out
They supposedly have $1.2 billion so will keep jerking investors around for a while yet.
I feel there are many more techs in the same situation, high PE , outrageous market caps.
Be careful out there, it may take a long time for things to settle down, there are huge bundles of shares now on
the market which will vanish.
Of course I don't know how Scmr will actually do, was just useing it to highlight a much bigger problem
with numerous techs. We need vast patience. IMO
Regards
Sig |
