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Microcap & Penny Stocks : WCEC - West Coast Entertainment Company
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To: DJ Albers who wrote (3)9/10/1997 9:20:00 PM
From: Bigpoppabass   of 60
 
I'm glad I found this discussion group. I recently ordered some info. from the company, and I was somewhat impressed. I also don't know why this stock has gotten killed. I think the story is simple; they cancelled the bond offering and as a result, they will have little growth in the near term. I spoke to the manager at the Videosmith headquarters in Boston. He informed me that they were about to get an infusion of capital, but when Blockbuster announced its troubles, the investors pulled the plug. He also informed me that the upcoming season is the strongest for rentals. I too think that WCEC is ripe for a takeover, perhaps from Hollywood Entertainment, which trades at such a high P/E in comparison to WCEC. It would make perfect sense to purchase a co. which has such a strong franchise in the Northeast, and also would Holywood a contender to take over Blockbuster as #1, and do it cheaply. I have been watching the volume of the shares. Last week, a huge 1,000,000 share block exchanged hands. I am presuming it was a block trade, since the stock moved little in either direction. Something is going on. The only problem I have with the stock is that if it is such a raging buy as the numbers indicate, then why haven't insiders rushed in to buy some shares? Only time will tell if the co. is up for sale or not.
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