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Strategies & Market Trends : Bill Wexler's Profits of DOOM
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To: t mcwilliams who wrote (47)2/24/1998 5:51:00 PM
From: Bill Wexler  Read Replies (1) of 4634
 
I'm adding ENML to the DOOM INDEX.

As I stated previously, I began shorting at 14 7/8 after studying the company. I tried to short some more today - not a single uptick until the close.

This one looks like its going to drop off the cliff in a hurry.

Basically the company is a poorly mananged, poorly capitalized operation trying to sell overpriced toothpaste with one active ingredient - fluoride.

They have pumped the stock up by a clever promotion scheme where they claim that they have a unique "remineralization" technology for tooth enamel. After checking with my dentist (also a professor at UCSF), an doing a little homework, I've come to the conclusion that these claims are bogus. Enamelon would need FDA approval before they could make "remineralization" claims on the box. Enamelon does not have the infrastructure nor the capital to conduct adequate trails. Furthermore, I am highly suspicious that they would already be conducting a small rollout into test markets without these human trials.

Seems to me that they are only trying to sell toothpaste (and more importantly - stock) at a premium hoping that the remineralization rumors will help move product.

This stock isn't worth a buck. It may do the bouncy-bouncy thing for a little while, but I bet it'll hit the floor harder and faster than any of my other picks.
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