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Technology Stocks : Genesis Microchip (GNSS)
GNSS 2.380-0.8%Nov 7 9:30 AM EST
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To: OldAIMGuy who wrote (1047)3/19/2003 2:26:20 AM
From: Paul Senior  Read Replies (2) of 1277
 
Tom Veale: I don't know what to make of the takeover. GNSS is now trading based on price of PXLW. I've not looked closely at PXLW, so I don't know why PXLW has dropped so much after the merger announcement. The market is obviously not liking the deal.

PXLW values GNSS at over $17 per share. But that's not cash value, that's $17 value in PXLW shares.
Weird how the market is sometimes. After seeing the buyout announcement I surely felt very foolish for reporting the previous day that I had sold. Lose money while holding the stock and lose some potential recoup from the proposed buyout. All the while my post making me look like an idiot with perfect mistiming.

Yet... today the stock is back down around where I sold. Weird.

I'm usually one to wait and see how these deals progress. But with GNSS not really moving up because PXLW dropped so much, and my figuring of GNSS as not going anywhere for a long time based on its high (i.e. high imo) forward p/e, if I owned the stock now, I likely would sell it now. Because as I look quickly at PXLW, it doesn't seem to be any bargain to me even at its current price. That's my opinion.

I've not been right about GNSS forward earnings or p/e when I bought, so I could be very wrong here as well.

Paul Senior
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