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Non-Tech : RAINFOREST CAFE
RAIN 4.870+1.7%Nov 24 3:59 PM EST
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To: Evan Dimmer who wrote (3698)1/6/1998 7:34:00 PM
From: Alan Bershtein  Read Replies (2) of 4704
 
>>Is this a buy at open, or will it head lower as the day goes on?<<

IMHO, buying at the open is too risky. However a price of 28 does seem quite tempting. Per Zacks, RAIN is expected to earn $1.30 per share in 1998. A price of 28 means RAIN is trading at 21.5 times 1998 earnings. I view that as a bargain for a stock expected to grow earnings 42% annually over the next 5 years.

I hope they elect to hold off selling the convertibles until the stock price recovers.

Good luck whatever you decide to do.

Regards,
Alan
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