Brian--
Thanks for the info. ASND is a stock I have been following for a long time (well since early 1996, almost 2 years now). I have watched it go from about $40 a share to $80 and now see it at $25. Same company, same products, same mgmt, and one can only analyze ASND in so many different ways so many times. I have had a pretty good track record predicting ASNDs moves (not short term moves, but longer term moves). I am looking to get long here in the $20s but am still looking for a bottom. We may have seen it.
BTW:
<<That doesn't mean that Ascend is not a buy at these prices, but I want to caution anyone simply buying because ASND looks cheap compared to COMS and CSCO.>>
ASND had ALWAYS traded to a premium (PE, PS, etc) to COMS and CSCO until this summer. This is no longer the case, but if the past is history, these prices are cheap as the market has shaved about $8 Billion off ASNDs value this year.
<<I remember people doing the same comparrisons with ATCT back when it was $12 a share. ATC also looked cheap compared to other stocks in the same industry. Now you can have ATC for $3 a share.>>
ATCT is/was/always will be junk. ATCT does $100 Million/YEAR in sales. Not even worth considering to buy in my book at $20 when the MFs bought, at $12, nor at $3! Comparing ASND to ATCT is not wise.
Best of luck,
Jeff |
