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Non-Tech : Rankin Automotive (RAVE)
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To: John Mattessich who wrote (13)1/9/1998 9:24:00 AM
From: C. K. Humphries  Read Replies (1) of 20
 
John, I heard the report was supposed to come out this week or next. I'm not expecting any major improvement over the last. I'm hoping for a tough winter in the south which will sell a lot of auto parts in the first quarter of 1998. In terms of competition, it is heavy in this region. RAVE took a double hit this summer with a poorly handled aquisition of the LA stores and a downward turn in the auto parts industry. Auto parts companies are going through a lot of consolidation at the moment. You may have seen the recent aquisition of Hi-Lo Automotive (I think that's the name). Anyway, RAVE is still selling below book so I think it is bound to rise. The drop down to 1 7/8 was probably end of year sell off for tax purposes. After doing some more research I am less convinced that there has been major manipulation. It is a very small float and therefore pretty volatile. Kent
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