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Technology Stocks : Corvis Corporation (CORV)
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To: Robert T. Quasius who wrote (1538)5/29/2002 4:09:50 PM
From: The Ox  Read Replies (1) of 2772
 
Even a token share buyback would support the stock but the owner is too full of himself to make such a jesture. If they can contain costs like they have outlined, they will still have plenty of cash at the end of this year. If today's announcement by Nortel is a guide, then this sector won't pick up until the end of next year or early 2004, as many of us have suggested in the past. It's a clear sign that the company believes that holding onto cash is more important than buying back stock. With this in mind, why should anyone hold the stock at this stage? Like RTQ just posted, the prospects in this industry are "dead money" for a year or 2. I also believe in the concept CORV has presented, as well as the huge potential for this type of technology. That said, I have a real problem with Dr. Huber's approach to the investment community and, specifically, with the way he dismisses the common shareholder in any of his recent presentations. When cash on hand exceeds the stock price - there is something VERY wrong with the company's management if they remain silent. No one is suggesting that they use the bulk of their money to buy stock but SOMETHING should be done. Even a token purchase would suggest that the company finds their stock attractive. If they won't buy, why should anyone else???
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