From Herb Greenberg Oct. 13, 1997 San Francisco Chronicle:
"-- Irrational exuberance: Who are these people? That's what I want to know about investors who bid up Fremont-based
Syquest's stock Friday. Volume was a whopping 26 million shares, equal to more than half its shares outstanding. Analysts
attributed the action to an item here suggesting the company will soon introduce a portable disk drive that will be priced
sharply lower than the rival Jaz drive from Iomega.
If they really believed the story, however, shouldn't there have been fallout at HMT Technology, the Fremont-maker of
thin-film media used in the disks in Iomega's Jaz drive? One-third of HMT's business comes from Jaz-related sales. The
price on disks for the new Syquest product is expected to be two-thirds below the HMT-produced Jaz disks. HMT's stock,
however, was off just 38 cents, or 2 percent, at $18.81. " |
