Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: vinod Khurana who wrote (3894)	9/26/1996 2:04:00 PM
From: vinod Khurana	of 42771

Keep an eye on Istar Internet Inc (TSE - WWW)..... The company went public at $12/share last November and reached a high of $22 within days (Internet euphoria). Since then, it has come down to $3.40 (August/96). Yesterday, the Bank of Nova Scotia injected $10 million into the company and the stock rose $1.20. It is up another $0.35 today and is currently trading in the $6.05 - $6.15 range. Last year, Istar bought out eight internet prociders at a cost of $20 million and probably is the reason for the fusion of cash from the B. O. Nova Scotia. But the best news is that our company switched from UUNET to Istar last month....and when the stock was at the low. Istar has reformed itself from a provider of Internet services for individuals to a provider of internet services for large corporations. The Bank of Nova Scotia (one of the four largest bank in Canada) is also hooked up to Istar (not a surprise). The fundamentals look good and the stock on a technical basis could'nt look any better. The chart indicates a U-turn. My target: $9 - $10. I bought today at $6.05/share. V.K P.S U.S investors should find Istar a bargain. The above quotes are in CDN dollars and with the exchange rate in the 35% - 40% level.....what more could you ask for ?

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