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Strategies & Market Trends : Roger's 1997 Short Picks

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To: CalculatedRisk who wrote (9094)12/30/1997 5:50:00 AM
From: Bill Wexler   of 9285
 
ONE TO WATCH: WJCO

This one grabbed my attention because I'm somewhat familiar with the contact lens business (I've been following the turnaround in a great stock - COO).

Something is not kosher here - but I'm just starting to investigate. One thing that really caught my attention was the fact that the company recently did a public offering of 4,000,000 shares...3,500,000 which were sold by insiders. Then in November, the company filed to sell another 1,400,000 shares - all by insiders. This is a company with about 18 million shares outstanding.

Compare the financials of COO to WJCO and my first impression is that WJCO is a screaming short. I'll dig in a little further...
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