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Strategies & Market Trends : The New Economy and its Winners

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To: Lizzie Tudor who wrote (14434)	10/21/2002 7:03:03 PM
From: Lizzie Tudor	Read Replies (3) of 57684

If anybody wants a penny stock for trading in this climate... VTSS Vitesse just had a FANTASTIC conference call. There has been large insider buying of this one... they are buying down some debt and made a net profit because of it. Its a risk, I know- CEO Lou Tomasetta said the company has made a successful transition from making chips for the sinking telecom market to a majority of its revenues coming from the less hard-pressed storage arena. Tomasetta said that from the fourth quarter of 2000 to the recently ended quarter, the company dropped its reliance on long-haul telecom from 70% to 15%. Said he expected the company to return to profitability in the last quarter of 2003. Vitesse ended trading down 5 cents, or 6%, to 78 cents. In after-hours trading, Vitesse's shares came back, rising 12.8%. thestreet.com

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