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Technology Stocks : Newbridge Networks
NN 12.73+1.0%3:59 PM EST
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To: TheTruth who wrote (2996)2/3/1998 9:52:00 AM
From: Franco Battista  Read Replies (2) of 18016
 
Just spoke to my broker. Stock is trading at 28.50$ Canadian on the Toronto exchange. I just rebought into NN last week. My previous investment had done very well, I went from 27$ US to 50.$US. I rebought when I saw the stock at 27$ US again last week. I was a week too early, OUCH! My broker will be giving me details about the conference call this morning. His first impression was that their ATM business is intact. This is crucial for future investment confidence. Whar riles me up about NN is their lack of investor relations. Why did they not take out a press release last night? It's crazy to have to learn about the reason for the trade halt through rumors circulated on CNBC. Also, this is the 3rd quarter that they pre-announce a shortfall, they should have taken one big hit in one quarter and then resumed their growth. Wall Street never rewards companies that keep whining quarter after quarter, the analysts stop recommending companies that make them look like fools every quarter. It is one thing for a broker to tell his clients, 'Hey, they'll miss their quarter but the worse is now behind them', but to have to say this for 3 quarters is not going to wash. Recovery could be slow for NN. They better get rid of UB fast, if they want to begin to restore investor confidence.
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