Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 206.52

-1.2%

Nov 25 3:59 PM EST

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To: sepku who wrote (21323)	11/6/1997 10:42:00 AM
From: sunfish	Read Replies (1) of 61433

Someone mentioned a few days ago that the analyst community was correct about collectively downgrading ASND in the high 40s following the 8K filing. I agree -- apparently there wasn't too much manipulation there among the 26 analysts. I don't pay that much attention to analyst, but the evidence you offer that they were "right" to downgrade argues to me that either 1) they have no clue as to where stocks are going (likely in most cases) or 2) they manipulate. Surely a downgrade AFTER a stock has lost 40% of its value is not a test of accuracy. How about a downgrade in the high 70's once in a while! The fact that ASND continued down to lose another 25% of its value is due to the momentum nature of trading in this stock and to the impact of the many downgrades that have occurred as the stock continued to fall. You can be sure that much of the smart money was LONG GONE when these downgrades started.

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