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Gold/Mining/Energy : MGI Software (MGI on the TSE)
MGI 10.990.0%Jun 1 5:00 PM EST
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To: Andrew G. who wrote (219)12/15/1997 1:53:00 PM
From: Steve Stinson  Read Replies (1) of 553
 
Andrew: I wish it was only a version upgrade that lay at the root of MGI's problems. I read the review for MGI PhotoSuite and all the other products very closely before deciding to dump the bulk of my position. I only wish I had unloaded it all. It is now trading at $3.30, down substantially from where I sold at $3.98.

I have been following this stock very closely since first taking a position more than a year ago. I have nothing but the highest respect for what the company has achieved so far. However, if they are to retain their momentum - and every indication is that they are losing it - their software must be top of its class. The PC Magazine ratings show PhotoSuite lagging substantially behind Microsoft Picture It! and Adobe Photo Deluxe. I doubt that a version upgrade will allow it to jump two ratings from fair to excellent in most of the categories in which it lagged.

The average consumer, or for that matter OEMs bundling the product, will only take a chance on PhotoSuite if it is top of its class. Otherwise, they are going to choose solid products from Microsoft or Adobe every time. I know Video Wave is garnering critical acclaim, but it will never be as mainstream a product as PhotoSuite.

In my judgement, MGI faces quite a challenge to restore the momentum it has lost. One can only hope that the new upgrade helps them pull it off. But as you probably know, it is very dangerous to rely on hope alone when investing. We will see...

Steve
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