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Technology Stocks : VNWC - VIDEO NETWORK COMMS INC ( VNCI )
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To: PartyTime who wrote (74)4/20/2002 10:40:12 AM
From: corstrat  Read Replies (1) of 308
 
PartyTime - To address your questions:

I really don't think the company has any say in what Hamouth is doing or not doing in the stock. But what I do wonder is what has been going on with his lawsuit against the Company.

I think yesterdays action shows that others are already joining the buying. As I mentioned I have a lot of friends that were ready to buy in the low twos, but these lightweight shorts seem to already be stumbling over themselves to cover what they already shorted. I saw several new MM's on the bid taking stock yesterday in the 2.80's. Like PGON and NAIB and others that had been aggressively on the offer earlier in the week, are now showing up on the bid and taking some size, like STRE, FLTT and LTCO. But from the look of the last half hour of trading yesterday, we still have a few last die-hards that were trying to knock it back down toward the close. I find it hard to believe that any real sellers were waiting until the last half hour on a friday to sell out of size and knock the bid down $.10. But as compared to the day before when someone painted a 100 share trade down .05 at 2.66 at the last second before closing to make the stock look down on the day, yesterday they didn't try to paint a 2.80 print.

I can't speak for others, but my buying is simply to make a lot of money when the stock moves up to more realistic prices based on fundamentals with existing management. I think they have done a fine job from the business side of the company though maybe not so well from a stock market point of view. But hopefully when the funding is complete, they will hire back the IR people they laid off in Nov. and solve that problem.

Best thing that can happen now is for them to get the money in the bank and make it pure stock equity based on a fixed price. And after the funding and a $5+ stock price get back on the NASDAQ large cap. My guess the funding in a few weeks, the $5+ price shortly thereafter and the relisting a few months later.
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