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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.
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To: Beefeater who wrote (280)8/28/1997 7:05:00 PM
From: Maurice Winn   of 381
 
Beefeater, why do I think the price will trickle away to $30? Speculative stocks in development stages tend to be very volatile. Investors won't pay the big prices until the handsets are seen to work and that the satellites don't fall from the sky. People really dislike it when their satellites fall from the sky or crash into each other.

Globalstar has just sold more shares [a couple of months ago] at $26.50. Suddenly the people are paying $40! Simultaneously, the overall markets have been "irrationally exuberant". After a bout of breathless excitement, people generally ease off for a while and take stock of the situation.

Because Globalstar is in a quiet period, no launching until December and no space testing till next year, people will get a bit bored, look the other way, get worried, suffer more margin calls, think there will be an overall crash, need the money for a new car, etc etc. When they see it trickling as it has since its recent peak, they will hold off! Volumes are low. It is a wait and see time.

Now it is a game of "pick the bottom!" Maybe $30 is a little low, but it wouldn't surprise me. It is still 4 months to launch time. That is a long time in the stock markets. Today though, near enough to $40 still. Maybe too many people are convinced by the rabid enthusiasm here and it will never look back at $40! What fun.

Good luck William!
:-]

Mqurice
Dow 16000 2002, GSTRF $50 Dec 97 [see post number 1 - adjust for split]
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