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Technology Stocks : Copytele - Another XEROX in future
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To: Joe Master who wrote (833)8/21/1997 6:28:00 PM
From: Q.   of 1320
 
Joe, I used my subscription to telescan to see what criteria their computer found that produced the worst 12 mo. returns for all optionable stocks.

The 6 search criteria were:

relative performance (RS) for 26 weeks - low as possible
price of stock - low as possible
price/sales ratio - high as possible
return on assets - low as possible
institutional holdings as percent of outstanding shares - low as possible
weeks stock has traded - high as possible

In other words, if you had carried out such a screen a year ago, you would have turned up the list, including COPY, that performed worst.

With Copytele's lack of sales, it has a huge PSR, and with its large losses and lack of assets, it has a hugely negative return on assets of -30%. Institutions hold only 13% of the stock. And the stock has traded for 6 years.

That's why it fit the screen criteria.

Of course the way Telescan does this backtesting, every week it will find a different set of criteria that produced the worst market return. So COPY may not make the list again in following weeks.
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