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Technology Stocks : DIGL... Digital Lightwave.... Making Waves....
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To: John Ritter who wrote (319)1/24/1998 11:02:00 AM
From: lloyd bashaw  Read Replies (3) of 934
 
1. This restatement is a very serious setback to say the least, but we are not dealing with a catastrophic, chapter 11 type loss of capital. The company has 24 million in cash and is conducting business. The company has great technology and a prestigious and valuable customer base.

2. From a trading standpoint....the sellers are out. (Anyone selling at this point is really succumbing to the fear cycle ...the people selling at 2-3 yesterday gave up potential savings of up 140% percent by not holding until the end of the bloodbath, err day. The market makers began accumulating massive amounts of shares at 4 and moved it quickly to touch 5 by close.

3. Of the 35 institutions that held DIGL..I would imagine that at least half or better held on since we have a full year to recuperate.

4. Look for the company to begin re-building share price. Companies always take measures to rebuild value after catastrophies.

5. The strongest proponents of class action suits are shorters. Only shorters and lawyers win with this scenario. A shorter wants a wasted skeleton to gradually turn to dust (the best short of all), and the lawyers love nothing better than to peck the rotting meat scraps until nothing but worthless bone is left.

Guess: Look for digl to trade between 6 to 7 by week's end...about 50% of the share price before restatement.
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