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Strategies & Market Trends : 50% Gains Investing

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To: Stan J. Czernel who wrote (31209)	9/25/2002 11:16:29 AM
From: Dale Baker	Read Replies (1) of 118717

PGO is a total spec play, has been since VTS called off the merger. I don't rate it in value terms. If Moe can come up with a plausible future for the company, it should double or triple from the current price. The debt could kill them if Moe doesn't fix it. If the dilution is the price Moe wants to step in, it's better than BK. And I suspect the new shares will be used for acquisitions and growth. They can't and won't do a 50m share secondary at these levels, probably never. SPEX - haven't followed them lately but wish I had nibbled some in low 4's when it was there. Problem is, any bad news and SPEX could collapse. No intrinsic value just potential.

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