Nanophase Technologies (NANX) Message Board

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Technology Stocks : Nanophase Technologies (NANX)

NANX 1.733

-1.0%

Apr 7 5:00 PM EST

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To: Sandra who wrote (61)	1/11/1998 2:04:00 AM
From: Obewon	Read Replies (1) of 322

Where did you "hear" this? None of the business news organizations have mentioned any downgrade. Oppenheimer and Furman Selz both were instrumental in the IPO last quarter and are unlikely to have publically downgraded the stock even with the current news. Furman Selz especially has its hands tied since it just initiated its buy rating on Dec 22. One thing to note is that over 4MM shares traded yesterday and the estimated float on the stock is only 5MM. That's 80% of the available shares changing hands in one session! Of course, the stock price is going to be cut in half. I'm surprised it didn't drop more with such selling pressure. However, the stock is likely to rebound Monday or Tuesday when the selling pressure declines. (of course, it will probably only bounce up to the $7-$8 range at most.) Does anyone know whether the licencing fee from the Japanese distributor is a reoccuring event or just a one time deal? OB

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