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Non-Tech : Any info about Iomega (IOM)?
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To: Stephen Blumenthal who wrote (7063)9/12/1996 5:27:00 PM
From: Young D.T. Nguyen   of 58324
 
>>Second question: can anyone give me a reasonable theory for why
the stock is going down? >>

Stephen, here is my theory:

After a hurricane has formed in the Atlantic and the Hurricane Center forecasted
that it may head for the East Coast, basically at this time all the folks who have
been looking to buy ocean-front properties on the East Coast delayed their
purchasing decision until after the hurricane hits land or turn away. Prices go
down temporarily as supply far exceeds demand.

KE predicted that a hurricane may hit IOMG in the 3rd quarter due to
slow summer sales. There was no homeowner insurance allowed on IOMG beach,
so people vacated the IOMG beach en mass, folks tried to get rid of their
properties while price was still good, panic set in. But few buyers are willing
to buy until the hurricane has passed, unless they get it really cheap. Diehard
owners of the IOMG ocean-front properies are holding on and praying that
the 3Q hurricane won't hit IOMG beach. Lots of prospective buyers are
just waiting for the hurricane to pass before buying...

My prediction is that after the 3rd quarter hurricane has passed, IOMG oceant-front
properties will be in high demand again. Unless a huge 3Q hurricane actually hit
hit and wipe out the entire IOMG beach city (quite unlikely), and KE predicts
more hurricanes for the 4Q. (Also unlikely, because hurricane season is almost over).

I just survived Bertha and Fran and several near misses, so this analogy makes
sense to me.
Young
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