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Non-Tech : Any info about Iomega (IOM)?
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To: GARY SIKORSKI who wrote (7359)9/21/1996 4:09:00 PM
From: Kashish King   of 58324
 
I guess the market was only kidding about IOMG being worth 2 billion but when it shot up to over 2.5 billion in a few days I concluded it wasn't any fundamental shift in the underlying value and decided to short at 19.75. They have a razor thin profit margin and the current earnings estimates don't justify the astronomical valuation at 12 or even 10 never mind 20 a share. Sadly, I was unable to short because there were no shares left in the pool to short. They had all been snapped up by like-minded investors. The technology has an extremely limited future however the half-life of this stock is even shorter. Does anybody really think this company is worth several billion with profit margins of 5% and ever increasing competition? Perhaps the bulls can enlighten me as to what it is that I am missing -- that's a miller genuine plee for information; not a facetious dig.
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