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Technology Stocks : QUANTUM
QNTM 7.050+1.3%Jan 16 9:30 AM EST
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To: Sam who wrote (4366)10/29/1997 4:24:00 AM
From: Z Analyzer  Read Replies (2) of 9124
 
The last two days are a perfect example of why every disk drive company should have an approved share repurchase program in place even if they don't intend to use it in normal market conditions. Blue light specials occur in the drive industry at least three times a year in my experience. Quantum could have earmarked perhaps five or ten percent of their available billion in cash to buy shares while they trade a such absurd levels. They would have gotten quite a bargain on behalf of shareholders and its a good bet that the stock would have been less volitile on the downside.
And although drive companies may not recognize it, the routine gut wrenching corrections in drive shares is undoubtably one of the major factors that leads to their low valuations. Its a good bet that both SEG and WDC did some discount shopping in the last few days.
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