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Technology Stocks : Westell WSTL
WSTL 5.700-7.2%3:56 PM EST
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To: Trey McAtee who wrote (7346)10/28/1997 5:20:00 AM
From: Johnathan C. Doe  Read Replies (1) of 21342
 
Trey, tech stocks dropped well over 20% between Jan. and April of '97. Many including Westell dropped far more than 20%, was it 60% and took it right down into single digits. Westell didn't go into single digits because anyone thought there was anything going on with the company or ADSL or any of that. Westell went into single digits because big money interests dumped Westell and small investors went out as it went down. Buy and selling in these market conditions often is irrational and individual stocks exhibit price declines that make no sense. If the market thinks the contracts are great, but they won't generate money for 6 months, they might take the stock down as if it will never generate money. That is how it has worked before this year, and it might work again. If tech stocks are totally out, Westell is in single digits, you can be sure of that.
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