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Microcap & Penny Stocks : PHFR: A $50M Company for .71/Shr ?? Anyone Know ??
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To: Danny Kim who wrote (8)7/29/1997 9:50:00 PM
From: Colin Cody   of 21
 
You say when they lost a few bucks last year (after a trend of positive EPS) that PROBABLY is why the stock dropped below $1??!!!
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Danny, I'm not here to bash the stock. I do follow it, own it, and will buy more some day.
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But your research is a little short on this. PROBABLY just don't cut it!
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PHFR FYI has been trading in a range (I posted this a couple days ago BTW) in the past number of tears of about 7/16ths to about $1.20.
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The stock has "always" been below a buck this DECADE. A temporary loss they incurred last year did not hurt the stock. The Market looks to THE FUTURE. The 1996 loss was one-time.
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IMO there is ZERO overhead resistance from old shareholders. This stock fell over ten years ago. THEN it reversed split to get it up over a dime. IMO there are NO old shareholders around waiting to sell as soon as they get to break-even. NO overhead resistance in this one.
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The stock is down here not because of resistance or lack of buyers, but because it is fairly valued under $1 (again as my analysis detailed in a prior post).
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I hope this one flys for you, but I'd be parking the shares for a lenghty wait.
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Good Luck, and please post any NEWS or RUMORS you learn of!!, Colin
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