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Non-Tech : RAINFOREST CAFE
RAIN 4.870+1.7%3:59 PM EST
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To: Alan Bershtein who wrote (3701)1/6/1998 9:03:00 PM
From: Dennis Vail  Read Replies (4) of 4704
 
>>I hope they elect to hold off selling the convertibles until the stock price recovers.<<

I'd imagine it's called off. Otherwise the news would have been released after the offering. Go ahead, call me cynical.

>>Is this a buy at open, or will it head lower as the day goes on?<<

The last month volumes been pretty light while capitalization dropped over 20%. Obviously the way the price has dropped in the last week the news has been leaked but I doubt too many people have been in on that party. Probably just the analysts and Lyle's ol' boy network. I think some funds will be dumping in the morning. The question is will there be someone buying. I tell you I wouldn't until I was certain a new and EXPERIENCED COO/Pres is coming aboard. Think about it in the last month or so RAIN's announced an offering they didn't need, then announced they were confortable with 4Q earnings and now they've done a 180 and say they aren't going to make earnings. Calling Dr. Moe, Dr. Curly, Dr. Larry. Calling Dr. Moe, Dr. Curly, Dr. Larry. If there's buying support I think it would bode the a new COO is going to be announced. Otherwise I'd say it's just crazy people buying. Low PEG or not we need some topdrawer management here before I'd sink one more penny into this company. And if there isn't new management by the end iof the month I'm certainly going to liquidate at least 50% of my holdings.

REgards,
Dennis

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