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Non-Tech : Any info about Iomega (IOM)?
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To: JF Quinnelly who wrote (7565)9/25/1996 12:05:00 AM
From: Michael Canario   of 58324
 
Just look at the change in this board in 1 1/2 weeks.

Before it was - well IOMG will blow out .11 in Q3 and everything will be well again. Then an earnings downgrade (no one talks about now) and the stock doesn't fall - the professionals were probably expecting a loss in the quarter. Then a good "boot" announcement scares some shorts and options traders and the stock moves up sharply. Now all the IOMGEANs add to their positions pushing the stock higher. I have to believe that the other shoe will drop between now and Oct 17.

Let's look at what IOMG has done this year (.10, .11, est .07). Now everyone points to Q4 for growth, but if the rebate stays or prices decline, how do you get much better than Q2. I'll believe it when I see it. I think they can make money on the disks, but I really question their ability to make anything on the drives. The OEMs will apply real pressure on them when this product becomes anything close to standard.

It's been a good recovery back from 13, but my personal view is that this is a $17 - $18 stock today (until earnings growth can be seen again). That's why I'll buy at $17 or less, but not here.

Also, I saw somewhere that IOMG has the 3rd or 4th highest Price to book value on any exchange. CSCC was first I think. IMO this is a similar indicator (in the opposite direction) to the #1 short interest that helped bring the stock to this level.

I have no position in IOMG (as of today).
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